The International Monetary Fund has a tough choice to make in Argentina: Unlock over $5 billion in funds under the country's loan deal as the government strains to stave off default, or hold the money back and risk sparking more market panic. The IMF, which agreed a $57 billion line of credit with the South American nation last year, needs to make a decision on releasing the latest tranche of those funds. The disbursement was originally set to be made this month.
Companies sold around $13 billion of junk bonds this week, the most in more than two years, according to data compiled by Bloomberg. Risk premiums for the securities have dropped more than 1.5 percentage points this year on average, and investors aren't getting paid much more to buy junk bonds instead of investment-grade, by some measures. Relatively risky junk-bond sales like a $300 million offering from Core & Main LP, a sewer and water supply distributor, show that the credit markets keep inflating, Cantor Global Chief Market Strategist Peter Cecchini wrote in a note Sept. 12.
An intensifying Middle East conflict is threatening to throw the world's energy market into disarray after weekend drone attacks destroyed parts of Saudi Aramco's Abqaiq plant — one of the world's largest processors of oil— and a separate nearby oil field. On Saturday, the drone attacks, directed at Saudi Arabian oil facilities that account for nearly 10 million barrels of crude-oil production, resulted in massive plumes of black smoke emanating from the oil field, and a shutdown that could lead to about 50% of its production being at least temporarily thrown off line. Prominent crude-oil strategist Phil Flynn at Price Futures Group told MarketWatch on Sunday that the drone strike was a “big deal” that could result in a major spike in crude-oil prices, because of the potential disruption to global supplies.
Here are three stocks with a very bearish outlook from Goldman Sachs right now. According to the firm, these 3 stocks all deserve the most worrying 'underperform' rating based on their outlook for the coming months. Here we take a closer look at why Goldman Sachs is advising against these three stocks, and whether or not the rest of the Street agrees.
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said. Attacks on two plants at the heart of the kingdom's oil industry on Saturday knocked out more than half of Saudi crude output, or 5% of global supply. Crude prices would spike by at least $15-20 per barrel in a seven-day disruption scenario and go well into triple digits in a 30-day scenario.
The United Auto Workers union announced plans to have as many as 46,000 hourly workers strike General Motors at midnight ET Sunday after talks toward a new contract failed to produce an agreement. "We stood up for General Motors when they needed us most. Now we are standing together in unity and solidarity for our members, their families and the communities where we work and live," UAW Vice President Terry Dittes said in announcing plans for the first major U.S. auto-industry walkout in more than a decade.
The world just lost 5% of its daily oil output, as Saudi Arabi cut production by half in the wake of a drone attack on Saudi Aramco oil fields. The company's specific operating areas are in the Delaware Basin, the Permian's second largest subdivision, and CXO controls over 1.1 billion barrels of proven hydrocarbon reserves.
After getting engaged I found out about her debt, bad FICO score excess parking tickets, etc. I educated and worked with her, and she eventually climbed out of it. Life is good, except she has new debt.
Millennial home buyers are going to some troubling lengths to foot the bill for their first homes, according to a new survey. Millennials are more likely than their older counterparts to fund their down payment and closing costs by dipping into retirement savings (13%, versus 8% of Generation Xers and 7% of baby boomers), saving money by moving in with family or friends (14%, versus 5% of Gen Xers and 2% of boomers) or selling personal items (12%, versus 5% of Gen Xers and 2% of boomers), a recent Bankrate survey of 2,582 U.S. adults found. They're trying to exhaust all their options, and they're certainly doing that at higher levels than the other generations.
The telecoms group, which orchestrated a controversial and ill-advised merger with Time Warner last year, is an underperforming, mismanaged dodo bird of a company — big enough to have racked up $190bn in debt yet not large enough to fend off the Big Tech apex predators ready to eat its lunch. in AT&T, says the company “not only failed to keep pace with the broader market, but has actually underperformed by over 150 percentage points” over the past decade.
Jeffrey Gundlach on Thursday struck a pessimistic tone, saying there was a 75% chance of a recession before the next presidential election as he warned that the corporate bond market is a crisis waiting to happen. Gundlach, the outspoken chief executive of DoubleLine, mockingly delivered a presentation called the “Greatest Economy Ever,” an allusion to President Donald Trump's characterization, which the famed bond investor doesn't share. Gundlach, to a London audience, outlined a number of worrying signs, including declines in purchasing indexes, which peaked at right about the same time the U.S. and global stock markets (SPX)did.
Despite concerns that problematic inventory levels as well as flaring trade tensions would weigh down the semiconductor industry, the sector has still been able to grow with the VanEck Semiconductor ETF up 40% year-to-date. Adding to the good news for investors, one of the best-performing analysts believes that several catalysts could drive even more gains for semiconductor stocks. Despite the near-term macroeconomic volatility, we believe there will be a number of catalysts in 2020 that will have a positive impact the semiconductor industry,” Needham's Rajvindra Gill wrote in a note to clients on September 11.
Saudi Arabia is racing to restore oil production after a brazen drone strike on a key Aramco facility slashed its output by half, or about 5% of world supply, an assault that the U.S. has blamed on Iran. State energy producer Saudi Aramco lost about 5.7 million barrels per day of output after 10 unmanned aerial vehicles on Saturday struck the world's biggest crude-processing facility in Abqaiq and the kingdom's second-biggest oil field in Khurais, the company said. Aramco would need weeks to restore full production capacity to a normal level, according to people familiar with the matter.
SEATTLE/CHICAGO/PARIS, Sept 13 (Reuters) - As Boeing Co sets its sights on winning approval to fly its 737 MAX within weeks, following a six-month safety ban, engineers around the world are rolling out plans for one of the biggest logistical operations in civil aviation history. Inside Boeing's 737 factory at Renton, Washington, south of Seattle, workers have pre-assembled dedicated tool kits for technicians tasked with installing software updates and readying over 500 jets that have sat idle for months, insiders said. Across the globe, Boeing teams are hammering out delivery schedules - and financial terms - with airline customers who have been forced to cancel flights, cut routes and fly aging jetliners while they await the MAX's return.
Growth has beaten value in the stock market for many years. But if you are feeling uncertain about the market — the trade standoff, Brexit, the health of the European Union, the threat of a recession and years of unprecedented stimulus by central banks — it may be time for you to diversify or consider a value-oriented strategy. Diversification is not difficult.
The flat base and the cup with handle are two critical stock chart patterns that any investor can learn in order to make more money in growth stocks. Let's consider Ciena, one of the current tech leaders in the stock market and a member of IBD Leaderboard. The Maryland-based specialist in high-speed fiber-optic data networking gear formed a perfect six-week flat base starting in the week ended July 13, 2018.
Wall Street is warming up to a few marijuana firms that—because pot is banned under federal law—can't even list on the New York Stock Exchange or Nasdaq. A team of analysts at Cowen thinks that may soon change. “With the U.S. operators penalized from a tax perspective, handcuffed in terms of true scientific research and restricted in terms of geographic optionality outside of the U.S., the operating paradigm is quite nuanced, relative to Canadian cannabis,” they wrote.
JCP) stock has been racked with volatility in recent years, but a director at the embattled department-store chain has become the latest insider to buy shares on the open market. The stock (ticker: JCP) has rebounded since hitting a record intraday low of 53 cents on Aug. 13, and has nearly doubled since to end Friday at 97 cents. It now sports a 6.7% year-to-date loss, after 2018's 67.1% plunge.
Pacific Gas & Electric has agreed to pay $11 billion to a group of insurance companies representing claimants from deadly Northern California wildfires in 2017 and 2018 as the company tries to emerge from bankruptcy, the utility announced Friday. The utility said in a statement the tentative agreement was reached with insurance companies holding 85% of the insurance claims from fires that included the November 2018 blaze that destroyed the town of Paradise, killing 86 people. It does not include thousands of uninsured and underinsured fire victims who have filed their own claims against PG&E, including for wrongful deaths.
But unlike those who followed Jack Welch's storied run at the top, this CEO understands that GE (GE) needs to be treated as a turnaround, rather than just as a course correction. A corporate turnaround has three phases. First, stop doing dumb things; second, improve management practices; and third, find new ways to grow.
We've opened up TipRanks' Trending Stocks tool to find three stocks that are underperforming right now, but are also showing high upside potential in the face of idiosyncratic headwinds. These are investment opportunities that have attracted attention from top analysts, and have the seeds for future market gains. Domino's Pizza, Inc.
FIRE refers to the “financial independence, retire early” movement bubbling up in the younger generation these days as a pathway out of the grind — slash expenses, save a bundle and enjoy the freedom that approach ultimately allows. Using the name FluffayPenguin, one anonymous thirtysomething took to Reddit to illustrate his FIRE blueprint, which allowed him to graduate college in 2008 and build a small chunk of change all the way up to $930,000 in savings. Well, for starters, he lived at home half of that time, a choice many millennials are making as housing costs skyrocket.
We had to make some tough decisions on those retrans providers, when some of the requests for increases were just not economically sound," Stephens said. "And we decided that we would not accept them and then we had to hold our ground. He added that the networks returned after “rates got to a reasonable level.
L Brands Inc.'s plan to turn around the Victoria's Secret lingerie brand includes offering fewer discounts, which could be a big problem for customers, analysts say. L Brands (LB) , whose portfolio also includes the Bath & Body Works chain and the Pink brand that targets young consumers, hosted its investor day event on Tuesday. Executives spent time explaining their strategy for the ailing Victoria's Secret label, which has seen sales stall and backlash ensue as tastes veer away from the over-the-top sexy, male-gaze perspective that has been central to the brand for much of its existence.
If you think stock chart analysis is bewildering, take comfort knowing that only a few patterns are worth identifying. One of the more common ones is the cup without handle. This is a base that traces a "U" shape on its daily or weekly chart.