It might be time to rethink FANG, according to CNBC’s Jim Cramer. FANG, which stands for Facebook, Amazon, Netflix and Google, was coined by the “Mad Money” host himself to refer to the group of high-performing tech stocks. But given Thursday’s market moves, Cramer thinks WANG – Walmart, Apple, Netflix and Google – might be
Semiconductor company Nvidia is scheduled to report quarterly earnings after the bell Thursday. And after introducing its eighth-generation graphics chip on Monday, the stock is up more than 32 percent year to date. Josh Brown of Ritholtz Wealth Management, a CNBC “Fast Money Halftime Report” trader, said investors will pay close attention to the chipmaker’s
Clearly no one wants their money to be held in Turkey, Argentina or Venezuela, where currency values are plummeting. But how stable is Europe? The British are being told by some pundits to start hoarding goods because there is apparently not going to be a deal with the European Union when Brexit becomes a reality.
“There’s no question that the consumer is out spending. One of the things we saw in retail sales was even though we don’t have more wage growth, we have more wages. We have more paychecks. That critical mass is showing up and actually spending,” said Diane Swonk, chief economist at Grant Thornton. “We have very
Hedge fund manager Daniel Niles believes there’s too much optimism surrounding Apple stock. Niles, founding partner at AlphaOne Capital Partners, is worried the China trade war could hit the iPhone maker’s bottom line and shock investors who are capitalizing on its record run. “People are forgetting that China is 18 percent of their revenues in
Investors could call them chips passing in the night. While semiconductor stock AMD soars this year, jumping 50 percent in just three months, its peer Micron is badly underperforming. Micron shares are down around 12 percent in that period, placing the stock on track for its first negative quarter in more than two years. Amid
The Turkish lira may be set for even more pain despite attempts by the country’s banking regulator to curb investors’ ability to buy and short the national currency. Quick political fixes tend to provide short-term rallies to foreign exchange markets, but frequently lead to a resurgence in volatility in a matter of days, according to
Wells Fargo Securities has a new message for investors: Hold on tight. Christopher Harvey, the firm’s head of equity strategy, believes the Turkey debt crisis will spark a crisis of confidence in the United States as earnings season winds down, and headline risks become front and center again. “You can start to have a lot
J.P. Morgan shared with its clients the firm’s best current stock picks in the U.S. pharmaceuticals sector. “We continue to see an attractive fundamental set-up for the Major Pharma group with an upward bias to EPS estimates and with the group still inexpensive in our view, trading at a significant discount to the broader market,”
Morgan Stanley is a big believer in the merger between Salesforce and MuleSoft. The firm raised its price target to $178 from $153, a 16 percent increase, for Salesforce shares, predicting a big rise in its sales during the coming years from the deal. In March Salesforce announced an agreement to buy MuleSoft for about
Activist investor Jana Partners has jumped back into Facebook after selling all its holdings in the stock, and has increased its holdings in Apple, which it has already pressured about iPhone addiction. Barry Rosenstein’s hedge fund also has taken new stakes in Alibaba, Alphabet, Wells Fargo and Microsoft, according to a regulatory filing Tuesday that
It’s retail’s time to shine this earnings season with industry leaders Walmart, Nordstrom and Home Depot each set to report quarterly results this week. Only one retail name looks like a winner to Mark Newton, technical analyst at Newton Advisors. “Macy’s looks like the real standout candidate to me among the group,” Newton told CNBC’s
Citron Research’s Andrew Left is bullish on Twitter shares again after his earlier negative call. “$TWTR has hit a level of relevancy as never before. With privacy concerns in its rear view & execution on all fronts -Citron expects new highs. Tgt price-$52,” Left said on Twitter Monday. Tweet Link Twitter shares closed up 2.5
Financial companies like Citigroup and Morgan Stanley generate 35 percent and 12 percent, respectively, of their sales from Brazil, Russia, India and China, according to Goldman Sachs. The bank’s cautious note came as the Turkish lira continued its downward spiral Monday with a 7 percent drop after plunging roughly 20 percent against the dollar Friday.
David Paul Morris | Bloomberg | Getty Images The silhouette of Drew Houston, chief executive officer and co-founder of Dropbox Inc., is seen walking on stage during an event in San Francisco. Dropbox fell as much as 10 percent during Friday’s open after its announcement on Thursday that chief operating officer, Dennis Woodside, will be
Wall Street rarely talks about its mistakes, but Goldman Sachs is now admitting it was wrong with its pessimistic view of AMD shares. The firm raised its rating to neutral from sell for the chipmaker’s stock, predicting big market share gains for its server chips over the next two years. “We find it increasingly harder
Put simply, Chinese tourists will have less buying power at Tiffany’s stores as their yuan holdings are converted into fewer U.S. dollars. The Chinese yuan has fallen more than 5 percent against the dollar this year as trade relations between the U.S. and China intensify. The U.S. has slapped tariffs on billions of dollars worth
Check out the companies making headlines before the bell: News Corp. – News Corp. reported adjusted quarterly profit of 8 cents per share, two cents above estimates. The Wall Street Journal publisher also saw revenue top forecasts, thanks to growth in real estate listings, book publishing, and subscription video services. Tesla – Tesla’s board of
While the dog days of summer have failed to produce record highs for the S&P 500, one widely followed strategist has a simple message for investors: wait until winter. Ryan Detrick, senior market strategist at LPL Financial, said markets are flashing a historically bullish signal after a solid streak of monthly gains. “The S&P was
Wall Street’s biggest bull is standing by his call that the S&P 500 will jump 12 percent by the end of 2018 as the broad market index nears highs not seen since January. In less than five months, the index will hit 3,200 points by year-end as a healthy economic backdrop and robust corporate earnings
Dropbox is set to report its second earnings report as a public company on Thursday after the closing bell, and some see a buying opportunity afoot. Shares of the software and cloud storage company are up 11 percent since the initial public offering in March, but the ride hasn’t been entirely smooth. The stock is
Elon Musk’s stunning announcement that he is looking to take his pioneering car company private could have darker implications for the broader market. Myriad questions surround the Tesla founder’s cryptic tweets earlier this week that he has financing in place to remove the company from the public sphere in a deal he’s valuing at $420
The boss of influential bond investor Bill Gross told CNBC on Thursday that the billionaire guru “has been wrong and wrong badly” this year. Gross is the portfolio manager of Janus Henderson Global Unconstrained Bond Fund, which suffered more than $200 million in redemptions last month, according to Bloomberg, lowering assets to $1.25 billion from
David Paul Morris | Bloomberg | Getty Images A technician inspects a 300mm silicon wafer at the Applied Materials Maydan Technology Center in Santa Clara, California. Semiconductor stocks have soundly outperformed the market for years, but Morgan Stanley is now warning the red-hot sector has topped out. The firm lowered its rating to cautious from
Check out the companies making headlines before the bell: Viacom – The media company reported adjusted quarterly profit of $1.18 per share, 11 cents a share above estimates. Revenue was essentially in line with forecasts, but was down about 3.7 percent from a year earlier due to a drop in ad sales and cable fees.
Even some market bulls can’t deny sell-off risks right now. Wall Street veteran Bill Stone, who spent 18 years as a chief strategist at PNC Financial, told CNBC’s “Trading Nation” on Wednesday that a 5 to 10 percent stock market drop is conceivable in the coming weeks. “Since we are back close to the highs
Trade war conflicts have caused soybeans to suffer this year, but after a 10 percent surge in the last month, one trader expects the rally to continue to grow. Bill Baruch, president of Blue Line Futures, told CNBC’s “Trading Nation” on Tuesday that he has a bullish outlook on soybeans and China. Here is what
Computer manufacturer 3D Systems shares skyrocketed Wednesday after the company reported better-than-expected earnings and revenue for the second quarter. Shares soared 32.4 percent at $17.96 per share, the stock’s best day since Feb. 17, 2011. The company reported earnings after the bell Tuesday of 6 cents per share, crushing Thomson Reuters expectations of 1 cent
The price of bitcoin is known for wild swings — after all, it’s a decentralized cryptocurrency that isn’t backed by any government. Case in point: Wednesday, bitcoin’s price dropped by over 8 percent after reports that the U.S. Securities and Exchange Commission delayed a decision on a new type of financial product around the cryptocurrency.
Shares of Office Depot jumped 12.9 percent on Tuesday, after the company reported better-than-expected earnings per share and revenue for its second quarter. The Boca Raton, Florida-based retailer reported adjusted earnings of 5 cents a share, beating analysts’ average estimate of 4 cents a share. Office Depot also reported $2.63 billion of revenue for the