Snap Inc.’s stock price may have fallen to just over $6 a share — down about 70 percent from where the stock started publicly trading — but even this low price shouldn’t fool investors, CNBC’s Jim Cramer said Friday. “Do not be tempted by Snap’s $6-and-change share price. It’s not a bargain,” he warned. “At
Month: November 2018
President Donald Trump’s meeting with Chinese President Xi Jinping at this weekend’s G-20 summit will be a defining moment for the U.S. economy and the stock market, so investors have to be prepared, CNBC’s Jim Cramer said Friday. Leaders of the world’s top 20 economically developed nations, known collectively as the Group of 20 or
Christopher Dilts | Bloomberg | Getty Images Tim Cook, chief executive office of Apple Inc., speaks during an event at Lane Technical College Prep High School in Chicago, Illinois, U.S., on Tuesday, March 27, 2018. Apple is making announcements in a bid to win back students and teachers from Google and Microsoft Corp. Tengler, who
Dollar General: Cramer expected a strong earnings report from Dollar General, which will issue its quarterly results Tuesday morning. “The best-performing portions of retail this week were the bargain basement operations: Ollie’s, TJX and Burlington Stores. Dollar General fits that bill,” he said. “I see an upside surprise coming.” Autozone: Auto parts retailer Autozone will
November will be a month to remember for bitcoin investors. The world’s largest cryptocurrency ended November down 37 percent, its worst drop since April 2011 when the cryptocurrency fell about 39 percent, according to data from CoinDesk. Bitcoin hit a low of $3,878.66 Friday after starting November above the $6,300 mark. The digital currency is
Shares of General Electric are a buy that “requires a strong stomach” as trouble continues to mount for the company, Wall Street’s “dean of valuation,” Aswath Damodaran, told CNBC on Friday. “I own the stock, but I’ve got to tell you GE Capital is an anchor dragging this stock down” by as much as $20
Coinbase is best-known for the popular U.S. cryptocurrency exchange that was on-boarding as many as 50,000 retail accounts per day during the crypto boom last year. But although it took off with ordinary investors, many institutions weren’t as eager to use it, according to Christine Sandler, the head of institutional sales. The OTC “soft launch”
The market is close to hitting an “all-clear” signal that could mean there is more upside ahead, one of Wall Street’s biggest bulls told CNBC on Friday. Tony Dwyer, chief market strategist at Canaccord Genuity, is looking at the S&P 500’s 10-week rate-of-change indicator, which measures the percent change in the index. When it drops
One of the worst-case scenarios would be someone forging a passport with your number, leading to criminal identity theft. That risk is likely low, said David Kennedy, chief executive of TrustedSec, a white hat hacking and cybercrime investigations company. “To replicate a passport takes a lot of effort,” Kennedy said. “I wouldn’t necessarily consider your
Microsoft is now the most valuable publicly traded company in the world, surpassing Apple for the title. Microsoft’s market cap was above Apple’s at the close of trading Friday. Microsoft surpassed Apple periodically throughout the week during intraday trading, but Apple consistently beat out Microsoft in market valuation at market close. At Friday’s close, Microsoft
Wall Street is loading up on boring stocks as year-end approaches, a trend that could signal investors are worried the recent market volatility could continue. Net inflows into exchange-traded funds that track high-dividend, low volatility stocks are above $500 million on an eight-week rolling basis — the first time since 2016 — according to data
David Paul Morris | Bloomberg | Getty Images Tesla Model 3 vehicles are loaded onto a truck for transport at the company’s manufacturing facility in Fremont, California, on Wednesday, June 20, 2018. Tesla has achieved a Model 3 production rate of 1,000 cars per day, according to electric vehicle blog Electrek. Producing cars at a
Despite the prevalence of these early withdrawals, most younger investors (89 percent) are either somewhat or very confident that they will save enough to enjoy their retirement, the research shows. They also should make sure they fully understand the impact of tapping retirement savings before age 59½. Early withdrawals from 401(k) plan accounts and IRAs
President Donald Trump can’t blame Jerome Powell for a bad stock market now that the Federal Reserve chairman has appeared to walk back his comments on interest rate hikes, Wharton School finance professor Jeremy Siegel told CNBC on Friday. The pressure is on Trump “more than ever” to reach a trade agreement with China as
In its Financial Stability Report, the Fed noted that the share of investment-grade debt classified at the low end of the range has “reached near-record levels” of $2.25 trillion, or about 35 percent of total corporate bonds. The Fed’s analysis of balance sheets at companies with debt in this rating tier indicated that over the
While the rest of the market struggles to get back up to records, a handful of consumer staples stocks have quietly rallied to new highs. Stocks like McCormick, Hormel Foods, Church & Dwight and Clorox have bucked the market sell-off over the past three months to notch records in November. Erin Gibbs, portfolio manager at
These people should pay especially close attention to their withholding: Filers who itemize: Prior to the new tax law, it may have made sense to withhold less from your pay if you itemized deductions. That may no longer be the case now that the standard deduction has nearly doubled to $12,000 for singles and $24,000
This holiday season could be a good time to knock down your student debt. Gift of College, an education registry, lets people register their student loan account, and then share their profile with friends and family who can contribute funds toward your loans. “Wouldn’t you rather get Aunt Emma to kick in toward your student
If you’ve stayed at a Starwood Hotel property in recent years, your personal information may have been compromised. Marriott International announced Friday that hackers had copied data from the reservation database for its Starwood Hotels brand, with unauthorized access dating back to 2014. “The company has not finished identifying duplicate information in the database, but
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Haliburton. Karen Finerman was a buyer of the Emerging Markets ETF. Dan Nathan was a buyer of Box. Guy Adami was a buyer of Eli Lilly. Trader disclosure: On November 29, 2018 the following stocks and commodities
If you were reluctant about investing in bitcoin before, you’ve probably completely given up on the idea now. The cryptocurrency is trading at around $4,000, a steep drop from its all-time high of nearly $20,000 last December, according to data from CoinDesk. Investors looking for clues on how to move forward are likely to find
Investors should expect U.S. stocks to inch higher next year as economic growth moderates and the effects of President Donald Trump’s tax cuts dwindle, according to RBC Capital Markets. Chief equity strategist Lori Calvasina wrote in her 2019 outlook on Thursday that the broad S&P 500 index should post more muted gains as gross domestic
Marriott International said on Friday that a guest reservation database of its Starwood Hotel brand was breached, potentially exposing information on about 500 million guests. Shares of Marriott were down more than 5 percent in the premarket following the disclosure. The company said its investigation showed that an unauthorized party had copied and encrypted information,
Saul Loeb | AFP | Getty Images Jerome Powell listens as US President Donald Trump announces Powell as nominee for Chairman of the Federal Reserve in the Rose Garden of the White House in Washington, DC, November 2, 2017. In other Fed-related news, New York Fed President John Williams will speak at a panel on
Frontier Airlines’ parent is planning to buy a stake in low-cost carrier WOW Air, the companies said Thursday, the same day Icelandair Group announced it had scrapped a planned acquisition of its ailing rival, calling WOW’s fate into question. Indigo Partners, a Phoenix-based private equity firm which owns Frontier, has invested in discount carriers in
Now that the Federal Reserve has become slightly less hawkish on its interest rate plans, there’s one final issue that could hinder U.S. economic growth in 2019, CNBC’s Jim Cramer said: China. “Remember, if we’re going to avert a slowdown next year, we need the president to make some kind of deal with the Chinese,
Noto, formerly the chief operating officer of Twitter, said that when he joined SoFi — a CNBC Disruptor 50 company whose name stands for “Social Finance” — “the No. 1 priority was making sure that we focused on quality of loans over quantity of loans.” Knowing that the Fed would soon start raising interest rates
Jonathan Daniel | Getty Images Stephen Curry #30 of the Golden State Warriors drives to the basket past Wendell Carter Jr. #34 of the Chicago Bulls at the United Center on October 29, 2018 in Chicago, Illinois. NBA player Steph Curry is making his signature basketball shoes with Under Armour available to girls after a
November’s sell-offs have pushed the popular FAANG stocks well below their average Wall Street price targets. Facebook, Apple, Amazon and Google parent company Alphabet are now at least 20 percent below analysts’ expectations, while Netflix is as much as 35 percent below its average target. Matt Maley, equity strategist at Miller Tabak, said FAANG’s recent
With the Fed sounding more dovish, the bond market is adjusting and now signaling that rates for mortgages and other consumer loans could be lower in the near future than what was expected just a few days ago. Federal Reserve Chairman Jerome Powell on Wednesday soothed some market concerns that the central bank would march
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