Tesla Q1 Results Miss Wall Street View

Luxury electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a first-quarter loss that was wider than analysts estimates, as revenues also missed expectations. Palo Alto, California-based Tesla reported first-quarter loss of $702.1 million or $4.10 per share, compared to last year’s loss of $709.6 million or $4.19 per share. Excluding items, adjusted loss for… Continue reading Tesla Q1 Results Miss Wall Street View

Trump’s Fed pick Moore irks senator for calling Cleveland and Cincinnati ‘armpits of America’

Stephen Moore, President Donald Trump’s embattled pick for the Federal Reserve, got in more hot water Tuesday when it emerged that he had called Cincinnati and Cleveland “armpits of America” during a talk in 2014. The reported remark has offended Sen. Sherrod Brown, the Ohio Democrat, who is also the ranking Democrat on the Senate… Continue reading Trump’s Fed pick Moore irks senator for calling Cleveland and Cincinnati ‘armpits of America’

Elizabeth Warren shops at Amazon, but also wants to break it up

Amazon makes $10B in profits, walks away paying nothing in taxes: Elizabeth Warren Former White House Communication Director Anthony Scaramucci, Fortune executive editor Adam Lashinsky, “FBN:AM” co-host Lauren Simonetti and Kadina Group president Gary B. Smith weigh in on Sen. Elizabeth Warren’s, D-Mass., argument that corporate tax loopholes allow Amazon to pay nothing in taxes.… Continue reading Elizabeth Warren shops at Amazon, but also wants to break it up

Grainger Reiterates FY19 Sales Growth Outlook – Quick Facts

While reporting financial results for the first quarter, W.W. Grainger, Inc. (GWW) on Monday reiterated its full-year 2019 total company guidance ranges, including sales growth of 4 to 8.5 percent and operating margin of 12.2 percent to 13 percent. On average, analysts polled by Thomson Reuters expect the company to report sales growth of 5.90… Continue reading Grainger Reiterates FY19 Sales Growth Outlook – Quick Facts

Bemis Dividend Expected To Double After Amcor Deal Closure – Quick Facts

Bemis Co., Inc. (BMS) said Monday its shareholders will have the opportunity to benefit from the expected increased dividend, which nearly doubles from Bemis’ current dividend, following the closure of the Amcor acquisition. The deal will create pre-tax annual cost synergies of approximately $180 million identified as part of the transaction and also additional potential… Continue reading Bemis Dividend Expected To Double After Amcor Deal Closure – Quick Facts

‘Walmart of liquor’ fighting for store in Westchester County

An epic battle over cheap booze is coming to a head in Westchester County — and it’s slated to land in court next month. Total Wine & More — a fast-growing chain of nearly 200 stores across 23 states that’s been branded by critics as a ruthless “Walmart of liquor” — is appealing a decision… Continue reading ‘Walmart of liquor’ fighting for store in Westchester County

US recession 'impossible' by summer next year, White House's Hassett says

Kevin Hassett: USMCA will get Democratic support Council of Economic Advisers Chairman Kevin Hassett on concerns by U.S. CFOs over a potential recession, the Federal Reserve, the future of USMCA and concerns of potential gridlock in Washington, D.C. Two-thirds of U.S. CFO’s expect a recession by summer of next year, but White House Council of… Continue reading US recession 'impossible' by summer next year, White House's Hassett says

Genuine Parts Co Q1 adjusted earnings Miss Estimates

Genuine Parts Co (GPC) announced earnings for first quarter that decreased from last year. The company’s profit totaled $160.25 million, or $1.09 per share. This compares with $176.58 million, or $1.20 per share, in last year’s first quarter. Excluding items, Genuine Parts Co reported adjusted earnings of $187.21 million or $1.26 per share for the… Continue reading Genuine Parts Co Q1 adjusted earnings Miss Estimates

Here’s what Attorney General William Barr is redacting from the Mueller report

WASHINGTON (AP) — The special counsel’s Trump-Russia report will be out on Thursday for all to see. But not all of it. The Democrats’ demands for a full, unredacted version of Robert Mueller’s report are likely to prompt a political and legal battle that could last for months, if not much longer. The chairman of… Continue reading Here’s what Attorney General William Barr is redacting from the Mueller report

U.S. dollar edges lower after stronger-than-expected China GDP data

The U.S. dollar was off slightly versus its biggest rivals Wednesday after data showed the pace of Chinese economic growth steadied in the first quarter, helping to soothe fears of a global economic slowdown. The ICE U.S. Dollar Index DXY, -0.15% a measure of the currency against six major rivals, was off 0.1% at 96.918.… Continue reading U.S. dollar edges lower after stronger-than-expected China GDP data

L’Oreal Q1 Sales Up 11.4%

Cosmetics and beauty products giant L’Oreal Co. (LRLCY.PK) reported that its sales for the first-quarter of 2019 were 7.55 billion euros, an increase of 11.4% based on reported basis. Quarterly sales were up 7.7% on a like-for-like basis, while it was up 8.9% at constant exchange rates. Jean-Paul Agon, Chairman and CEO of L’Oréal, said,… Continue reading L’Oreal Q1 Sales Up 11.4%

Roy Moore leads Republicans in Alabama Senate poll

Roy Moore, who narrowly lost an Alabama Senate race in 2017 amid sexual misconduct allegations, is leading among Republican voters in a new poll ahead of the next election in 2020. Moore lost in a December 2017 contest to Doug Jones, in an upset victory by the Democrat in a deeply Republican state. Now, a… Continue reading Roy Moore leads Republicans in Alabama Senate poll

Expectations of interest rate cuts grow after RBA release minutes

The Reserve Bank would consider it "appropriate" to cut interest rates this year if it saw a sustained rise in Australia's jobless rate, according to the minutes of its latest board meeting, which have raised market expectations of rate cuts. Australia's central bank continues to grapple with conflicting signals on the state of the economy,… Continue reading Expectations of interest rate cuts grow after RBA release minutes

RBA discussed cutting rates but saw no near-term case for a move

The Reserve Bank of Australia (RBA) discussed interest-rate cuts in a review of policy scenarios at its April board meeting and concluded there was "not a strong case" for an adjustment in the near term. The RBA conceded rates were unlikely to need to rise in the period ahead and decided standing pat would allow… Continue reading RBA discussed cutting rates but saw no near-term case for a move

How Investors Should Brace for the Coming Earnings Recession

For much of the past year, Morgan Stanley has issued remarkably accurate warnings that corporate earnings, particularly from companies in the S&P 500 Index (SPX), will experience rapidly diminishing growth. Now Morgan Stanley is predicting an earnings recession, or profit decline, that will last throughout 2019, and possibly beyond, Business Insider reports. "Earnings are deteriorating… Continue reading How Investors Should Brace for the Coming Earnings Recession

Want an insider’s way to play IPOs? This fund has had outsize success with its strategy

With thousands of actively managed mutual funds to choose from, it’s as difficult to be distinguished from the crowd as it is to beat the broad stock-market indexes. But the Federated Kaufmann Small Cap Fund has done both. In an interview, John Ettinger, one of the fund’s managers, described the Kaufmann team’s specialty — analyzing… Continue reading Want an insider’s way to play IPOs? This fund has had outsize success with its strategy

Triple Witching Could Trap Bears in Strong Bounce

Monday marks the start of first quarter triple witching options expiration week, culminating with Friday's simultaneous expiration of stock options, index options and index futures. This period has a well-deserved reputation for volatility and contrary behavior, setting the stage for a strong bounce that could trap overeager bears. As a result, it's a perfect time… Continue reading Triple Witching Could Trap Bears in Strong Bounce

Is the Brexit Risk Fading?

Major Moves As I have discussed several times in the Chart Advisor, Brexit represents an existential threat to the U.K. and European economies. A serious contraction in those economies would have a profound impact on the U.S. and Asian markets as well. Although there are many risks associated with Brexit that should worry U.S. investors, I believe… Continue reading Is the Brexit Risk Fading?

Earnings Season Starts with a Bullish Bang

Major Moves Earnings season kicked off today with announcements from two key financial institutions – JPMorgan Chase & Co. (JPM) and Wells Fargo & Company (WFC) – and the reactions couldn't have been any different. JPMorgan stock gapped higher at the opening bell – opening at its highest level in 2019 – and continued to climb… Continue reading Earnings Season Starts with a Bullish Bang

Slumping Transports Could Signal Broad-Based Decline

Transportation stocks reflect the strength and weakness of the U.S. economic engine, with sector price action having the power to reliably predict broader market direction. For that reason, technicians are sitting up and taking notice because the Dow Jones Transportation Average (DJTA) is sharply diverging from the S&P 500 Index, carving a much weaker price… Continue reading Slumping Transports Could Signal Broad-Based Decline

Harvard, MIT Among 65 Colleges Supporting Legal Challenge to Trump Visa Policy

Sixty-five universities from 24 states and the District of Columbia, including Harvard, Yale, MIT, Cornell, Duke and Columbia, have signed onto an amicus brief filed last week supporting a legal challenge to a recent immigration policy change. Amicus briefs, or friend-of-the-court briefs, are legal documents filed by non-litigants with a strong interest in the matter… Continue reading Harvard, MIT Among 65 Colleges Supporting Legal Challenge to Trump Visa Policy