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Earnings Results: EBay earnings beat expectations, but forecast underwhelms

EBay Inc. exceeded expectations with its financial results Wednesday but its shares fell 6.3% in after-hours trading after the company's forecast for the holiday period came up short......»»

Category: topSource: MARKETWATCH2 hr. 50 min. ago Related News

The Moneyist: My sister wants to distribute $50K to each grandchild from our mom’s savings — but some of us siblings don’t have kids

‘My mom is not involved in this decision because she has delegated signing authority for the account to this sister and my brother.’.....»»

Category: topSource: MARKETWATCH2 hr. 50 min. ago Related News

: Inflation is turning into a headwind for these five publicly traded companies, analysis shows

Glyn Kirk/Agence France-Presse/Getty ImagesSophisticated algorithms, based on 25 macro-economic drivers used to calculate appropriate fair values for asset prices, have identified the top five publicly traded companies for which inflation is turning into a significant headwind. The companies are Regeneron Pharmaceuticals Inc. REGN; Centerspace CSR; SBA Communications Corp. SBAC; ResMed Inc. RMD; and DexCom Inc. DXCM, according to Colin Stewart, head of Americas for Quant Insight in New York, citing data as of Wednesday.The data incorporates moves in 2- to 10-year U.S. inflation expectations, using inflation swaps, to determine which companies stand the best chance of weathering a period of higher prices, by being able to pass that on to consumers. The five companies seen as getting helped the most by higher inflation acting as a tailwind are Endo International PLC ENDP; Boston Beer Co. SAM; Calavo Growers Inc. CVGW; Discovery Inc. DISCA; and SelectQuote Inc. SLQT, according to Quant Insight’s data.Higher inflation tends to provide a positive lift to stocks, until either it compresses profit margins and a company lacks the pricing power to make up for it, or markets expect interest-rate rises to put the brakes on economic growth. Bond markets worldwide are now factoring in the potential for a global rate-hiking cycle beginning next year, as evidenced by the pronounced flattening of curves across countries.“Markets, we feel, are hampered by the inability to mark to macro,” or trade at levels that accurately reflect the state of the economy, Stewart said by phone. “We put eyes on this very big blind spot for investors, by calculating all the factors that drive up asset prices across equities, ETFs, rates, commodities and crypto currencies.”A recent explosion of alternative data sources like Quant Insight, based in London and New York, is giving investors access to tools previously reserved for only hedge funds, with traditional money managers scouring the world for information that can give them an edge. Read: The explosion of ‘alternative’ data gives regular investors access to tools previously employed only by hedge fundsQuant Insight serves portfolio managers, traders, insurers and corporations. It was co-founded by former hedge-fund manager Mahmood Noorani and has a team of academic advisors that include astrophysics professor Michael Hobson of the University of Cambridge in the U.K. In March 2020, at the onset of the pandemic in the U.S., the firm predicted the S&P 500 Index SPX would bottom out on the 15th of that month — roughly a week sooner than the index actually did. Quant Insight isn’t currently giving a forecast for the S&P 500, saying the index is now trading “out of regime,” or for reasons that are outside of economic fundamentals, Stewart says. On Wednesday, the S&P 500 edged higher along with the Nasdaq Composite Index COMP as investors weighed earnings from tech stocks. Meanwhile, Dow industrials DJIA were under modest pressure in afternoon trade. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: MARKETWATCH3 hr. 18 min. ago Related News

Arhaus sets IPO terms as profitable home furnishings retailer could be valued at up to $2.4 billion

Arhaus Inc. has set the terms for its initial public offering, in which the profitable Ohio-based premium home furnishings retailer could be valued at up to $2.38 billion. The company could raise up to $219.4 million, as it is offering 12.9 million Class A shares in the IPO, which is expected to price between $14 and $17 a share. Selling shareholders are offering 10.0 million shares in the IPO, as they look to raise up to $170.0 million. The company expects to have a total of 140.06 million shares outstanding after the IPO, including 57.34 million Class A shares and 82.72 million Class B shares. The Class A shares are expected to list on the Nasdaq under the ticker symbol "ARHS." BofA Securities and Jefferies are the lead underwriters. The company recorded net income of $16.2 million on revenue of $355.4 million during the six months ended June 30, after income of $10.7 million on revenue of $224.1 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 10.7% over the past three months while the S&P 500 has gained 4.0%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: MARKETWATCH3 hr. 18 min. ago Related News

Exxon Mobil raises dividend by a penny, to boost the implied yield to nearly 5.5%

Exxon Mobil Corp. said Wednesday it will raise its quarterly dividend by a penny, to 88 cents a share from 87 cents. The new dividend will be payable Dec. 10 to shareholders of record on Nov. 12. The stock slumped 2.5% in afternoon trading, amid a broad slump in energy stocks as crude oil futures shed 2.3%. Based on current stock prices, Exxon Mobil's new annual dividend rate implies a dividend yield of 5.48%, which compares with the yield for the SPDR Energy Select Sector ETF of 3.75% and the implied yield for the S&P 500 of 1.32%. Exxon Mobil's new implied yield would make it the eighth-highest yielding stock in the S&P 500. There had been some question as to whether Exxon Mobil would raise its dividend or not this year, with Chief Executive Darren Woods assuring investors in July that the oil giant feels a "very strong commitment" toward a reliable and growing dividend.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: MARKETWATCH3 hr. 18 min. ago Related News

Dow closes 266 points lower, halts string of gains as Nasdaq ekes out 3rd straight rise and Treasurys log steepest yield slide in 3 months

The Dow and S&P 500 closed lower Wednesday, ending a string of gains for the equity benchmarks that have been mostly rising to all-time highs on the back of upbeat quarterly results from American corporations. The Dow Jones Industrial Average closed down 266 points, or 0.7%, at about 35,491, the S&P 500 index closed 0.5% lower at 4,552. The Nasdaq Composite Index finished the session nearly unchanged at 15,236, as a retreat in yields for the 10-year Treasury note and the 30-year Treasury bond hit lows not seen since July 19, according to Dow Jones Market Data. Lower yields can buoy yield-sensitive sectors like information technology and investment factors like growth. In corporate results, Microsoft Corp. reported quarterly earnings that shot over $20 billion for the first time, late Tuesday, which helped to limit declines in the broader market and supported the tech sector on Wednesday. Microsoft shares rose 4.2% to $323.17, notching a record close, according to Dow Jones Market Data. Meanwhile, in a surprise move Wednesday, the Bank of Canada said it would abruptly end its bond-buying program and warned of prolonged inflation through 2023, while also signaling it may hike interest rates sooner than expected, the second quarter of 2022. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: MARKETWATCH3 hr. 18 min. ago Related News

Invisalign parent Align Tech stock rallies 10% after Q3 earnings

Shares of Align Technology Inc. rallied 10% in the extended session Wednesday after the maker of the Invisalign brand of plastic aligners and other orthodontics products reported third-quarter profit and sales above Wall Street expectations. The company said it earned $181 million, or $2.28 a share, in the quarter, compared with $139 million, or $1.76 a share, in the year-ago period. Adjusted for one-time items, Align earned $2.87 a share. Sales were up 38% to $1.02 billion, including revenue of $837.6 million for sales of Invisalign devices. Analysts polled by FactSet expected Align to report adjusted earnings of $2.60 a share on sales of $978 million. the stock ended the regular trading day up 1.8%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: MARKETWATCH3 hr. 18 min. ago Related News

Earnings Results: Twilio stock dives 13% after weak earnings guidance, COO’s announced departure

Twilio reported a third-quarter loss of $224.1 million, or $1.26 a share, on sales of $740.2 million, up from $448 million a year ago. After adjusting for stock compensation and other factors, Twilio reported a profit of a penny a share, worse than adjusted earnings of 4 cents a share a year ago......»»

Category: topSource: MARKETWATCH3 hr. 50 min. ago Related News

Earnings Results: Ford stock rallies 9% after auto maker raises guidance, says chip shortages are easing

Ford Motor Co. stock rose more than 9% in after-hours trading Wednesday after the auto maker reported mixed third-quarter results but raised guidance for this year, resumed paying a dividend and said chip shortages are easing......»»

Category: topSource: MARKETWATCH3 hr. 50 min. ago Related News

: Netgear stock drops as supply-chain problems damage outlook

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Category: topSource: MARKETWATCH4 hr. 6 min. ago Related News

Earnings Results: Twilio stock drops 11% after weak earnings guidance, COO’s announced departure

Twilio reported a third-quarter loss of $224.1 million, or $1.26 a share, on sales of $740.2 million, up from $448 million a year ago. After adjusting for stock compensation and other factors, Twilio reported a profit of a penny a share, worse than adjusted earnings of 4 cents a share a year ago......»»

Category: topSource: MARKETWATCH4 hr. 6 min. ago Related News

: Fiserv stock logs worst day in 19 months after earnings

Fiserv Inc.'s stock dove to its worst performance in more than 19 months Wednesday after the financial-technology company discussed the loss of a large processing customer during its earnings call and gave some more muted commentary around the current quarter than some were expecting......»»

Category: topSource: MARKETWATCH4 hr. 6 min. ago Related News

Key Words: Grayscale’s LaValle expects the SEC to approve its spot bitcoin ETF by July 2022

David LaValle, global head of ETFs at Grayscale Investments, said on Wednesday that he expected the SEC to approve the company's application for a spot bitcoin ETF by July next year......»»

Category: topSource: MARKETWATCH4 hr. 6 min. ago Related News

Capitol Report: ‘It’s not looking good’: Paid leave may be on chopping block in Democrats’ social-spending bill

Paid leave, a major part of Democrats' wide-ranging social-spending bill, may be left on the cutting-room floor as the party's moderates and progressives try to hammer out an agreement this week......»»

Category: topSource: MARKETWATCH4 hr. 6 min. ago Related News

NewsWatch: Here are the companies that Apple’s ad changes are hurting, and the ones that can withstand the pain

The latest batch of internet earnings helped reveal the winners and losers from Apple Inc.'s privacy-related changes......»»

Category: topSource: MARKETWATCH4 hr. 50 min. ago Related News

Earnings Results: Twilio shares drop 11% on earnings guidance, COO’s departure

Twilio reported a third-quarter loss of $224.1 million, or $1.26 a share, on sales of $740.2 million, up from $448 million a year ago. After adjusting for stock compensation and other factors, Twilio reported a profit of a penny a share, worse than adjusted earnings of 4 cents a share a year ago......»»

Category: topSource: MARKETWATCH4 hr. 50 min. ago Related News

Personal Finance Daily: America’s 40-year housing market ‘tailwind’ could be coming to an end and my sister wants to distribute $50K to each grandchild from our mom’s savings — but some of us siblings don’t have kids

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Category: topSource: MARKETWATCH4 hr. 50 min. ago Related News

Crypto: World’s richest 29-year-old says biggest risk to crypto is ‘a cascade, combining a big crash, liquidations,’ and U.S. regulatory crackdown

Sam Bankman-Fried, the co-founder and CEO of FTX, one of the world's most prominent crypto exchanges says that one of the biggest potential risks to the digital-asset market is a cascade of events that also features a U.S. regulatory crackdown......»»

Category: topSource: MARKETWATCH4 hr. 50 min. ago Related News

MemeMoney: Robinhood might have actually democratized finance, but it’s killing Robinhood

The zero-commission trading app's biggest problem is that retail investors have gotten smarter than it really ever wanted them to be......»»

Category: topSource: MARKETWATCH5 hr. 6 min. ago Related News

: Tesla stock closes at record on the heels of Uber-Hertz deal

Shares of Tesla Inc. ended at a fresh record on Wednesday as Hertz Global Holdings Inc. and Uber Technologies Inc. said the rental car company would offer Tesla vehicles for ride-hailing......»»

Category: topSource: MARKETWATCH5 hr. 6 min. ago Related News