The news roiled pharmaceutical stocks, while Amazon shares are at all-time highs. According to Tanquilut, Amazon’s business-to-business medical device web page was posted during the same period the company was granted wholesale distribution licenses in several states. The licensure was first reported by the St. Louis Post-Dispatch. An Amazon spokesperson previously told CNBC by email
Technology is the most important industry for stocks today, indicating that blowout earnings from giants such as Microsoft could be good for the market. Shares of Google parent Alphabet, Microsoft and Intel soared nearly 6 percent or more in Friday trading after reporting solid quarterly earnings that came in well above Wall Street’s expectations. The
Expedia CEO Mark Okerstrom told CNBC that the company’s stock decline on Friday is a “concern” but he is still “incredibly optimistic” about the future of the business. Shares of the travel company fell Friday, one day after it reported quarterly earnings that failed to meet Wall Street’s expectations. The stock was down about 18
While economists parse through every word from the Federal Reserve in the hopes of figuring out where interest rates are headed, a more telling indicator may be found in the commodities market; and it’s likely pointing to growth ahead. The copper-gold ratio, a metric that is calculated by dividing the price of copper by the
Big tech stocks are already having a record day on Wall Street. Amazon, Microsoft and Google parent Alphabet all reported Q3 earnings after the bell Thursday, beating Wall Street expectations and sending stocks on the rise after hours and into the start of trading Friday. Amazon surged 11 percent, Microsoft spiked 9 percent, and Alphabet
CVS talks to buy health insurer Aetna for as much as $66 billion makes sense because the drugstore operator and prescription benefit manager has been facing threats from all sides, including from Amazon, a leading analyst told CNBC on Friday. A deal of this nature would add health insurance plans to the CVS Health portfolio.
Times of economic difficulty tend to bring up talk of “safety stocks,” but in times of economic prosperity, CNBC’s Jim Cramer sees that narrative flip. “What if the definition of safety is changing right before our eyes? What happens when what’s prudent suddenly becomes what’s reckless and what used to be reckless becomes responsible?” the
Competitors trying to take a bite out of GrubHub’s market share haven’t been having much luck, GrubHub CEO Matt Maloney told CNBC on Thursday. Maloney said that competitors like Postmates and Uber Eats, along with their venture-capital backers, have “wasted” billions of dollars on promotions in fruitless attempts to steal diners from GrubHub, currently the
Twitter has finally cleaned up its act, and it is now a “legitimate” platform for companies to place advertisements, CNBC’s Jim Cramer said Thursday. “They got disciplined. We’ve been waiting and waiting and waiting,” Cramer said on “Squawk on the Street” after Twitter reported revenue that beat Wall Street’s expectations. “It was a takeover story
With stocks finally taking a break from rallying, CNBC’s Jim Cramer circled back to one out-performing stock that could be a buying opportunity on the market-wide weakness. Stanley Black & Decker, which makes a variety of tools and some security solutions, just issued a strong quarterly earnings report that sent its shares soaring. So far
In a lively year for technology-related initial public offerings, yet another tech IPO in the caught Jim Cramer’s eye last week: that of MongoDB, a software platform for organizing databases. Shares of MongoDB came public at $24, closing above $32 the same day. Since then, its shares have dipped back to the $31 level. As
Getty Images Mary Barra, Chairman and CEO of General Motors, holds a media briefing at the 2016 GM Annual Meeting of Shareholders on June 7, 2016 in Detroit, Michigan. Morgan Stanley’s auto analyst Adam Jonas is known for his out-of-the-box thinking on Tesla, but he’s pretty good at analyzing the traditional automakers too. Jonas downgraded
It’s old news that the market is hitting record highs almost every day, but Cramer has grown concerned that there could be danger lurking underneath the rally. “On the surface, this market does look both astonishingly bullish and astoundingly placid. You’ve never seen a bull this calm before,” Cramer said. “And look, it makes sense.
Bitcoin is a currency, a noted New York University professor said in a blog post on Tuesday. “I will argue that bitcoin is not an asset, but a currency, and as such, you cannot value it or invest in it,” wrote Aswath Damodaran, a professor of corporate finance and valuation at New York University’s Stern
Patrick T. Fallon | Bloomberg | Getty Images Joshua Friedman, co-chairman and co-chief executive officer of Canyon Partners LLC, Canyon Partners Co-CEO Joshua Friedman said he’s finding value in mergers and acquisitions and is “very cautious” on entering the retail space. “We’ve deployed a fair amount of capital recently in oil services,” Friendman told CNBC’s
While the chances of lawmakers drastically cutting 401(k) contribution limits are slim, CNBC’s Jim Cramer still doubled down on why the cuts would be especially harmful to the middle class. “The whole point of a 401(k) plan is that your contributions are tax-deductible up to $18,000 a year. They want to slash that to $2,400?
Any investor old enough to remember the notorious Dow decline of 508 points on Black Monday — Oct. 19, 1987 — is probably old enough to recall The Golden Girls, name all four Beatles and know that a plummeting Dow Jones Industrial Average spares no world markets when it falls into a rapid, ruinous spiral.
When CNBC’s Jim Cramer first recommended Callaway Golf and Dick’s Sporting Goods as ways to invest around golf a little over a year ago, he wasn’t entirely sure where the industry would go. “At the time, the conventional wisdom held that golf was dead, but I thought we were seeing some green shoots and there
When the broader market is strong, sometimes CNBC’s Jim Cramer likes to zoom in on specific companies to review what they’re doing right. On Friday, Cramer turned to Honeywell, the massive industrial conglomerate manufacturing aircraft engines, climate control systems, security equipment and other specialty products. “Honeywell’s stock has roared up over 25 percent year to
Industrials: Tuesday will be critical in determining the strength of the industrial cohort, with earnings reports from General Motors, United Technologies, Caterpillar, 3M and Stanley Black & Decker. Cramer expects all of them to deliver strong results, particularly given the post-hurricane cleanup projects in Texas and Florida and the boon from a weaker dollar. “Now,
Veteran investor Bill Miller joined other prominent fund managers in declaring his own bullish views on the stock market. “The global economy has now entered a synchronized expansion for the first time in many years, and the usual macro fears are largely absent,” wrote Miller on Wednesday. Synchronized expansion means economies around the world are
Bitcoin surged 5 percent to a record high above $6,000 on high trading volume Friday. The cryptocurrency hit a record high of $6,003.81 in late morning New York trading, according to CoinDesk. Bitcoin later pared some gains to trade around $5,905 by early afternoon. Twenty-four hour trading volume in U.S. dollars for bitcoin was nearly
General Electric‘s quarterly earnings results were a “disgrace,” but new CEO John Flannery will turn things around, CNBC’s Jim Cramer said Friday. Shares of GE fell more than 8 percent at one point in Friday’s premarket, its worst drop in more than eight years, after it reported a huge third-quarter miss. It was down about
Lululemon will be one of few retail brands that can survive the Amazon onslaught, according to one Wall Street firm. Citi Research raised its rating for the company’s shares to buy from neutral, predicting Lululemon will report earnings above expectations this year. The call sent the stock up 2.3 percent in Friday’s premarket session. “We
CNBC’s Jim Cramer had a unique experience during the historic market crash of 1987 that occurred 30 years ago Thursday. “People always want to talk about Black Monday, 30 years ago today where the Dow lost 500 points, erasing more than 20 percent of the market’s value,” the “Mad Money” host said. “But as bad
Still, Hogan feels that despite the various calamities that have visited financial markets over the years, conditions are far safer now than they were then. “Markets get overheated and we’re going to have sell-offs,” he said. “At some point we’ll have corrections, we’ll have bear markets again. I just don’t think we’ll see that form
U.S. Treasury Secretary Steven Mnuchin may have cautioned that the stock market will drop if tax reform is not passed, but CNBC’s Jim Cramer isn’t buying it. “Look, I appreciate [that] he’s trying to get Congress motivated, but just on the facts, I think he’s quite wrong. The truth is, most executives don’t believe tax
States that have fallen behind on their pension obligations have been underfunding their pensions for years. Many have also used outdated investment forecasts that count on unrealistic returns. Some states have implemented pension reforms, closing their funds to new employees and freezing existing plans. But those measures have also cut contributions from active workers, reducing
“Big Blue” is having a big week. Shares of IBM surged over 9 percent on Wednesday after the company reported better-than-expected earnings. The move lifted the Dow to record highs and would represent the most positive earnings reaction for the tech giant since 2002. It would also mark only the third time in the last
Andrew Harrer | Bloomberg | Getty Images Listerine mouthwash bottles move through the production line at the J&J consumer healthcare products plant in Lititz, Pennsylvania. With the Dow Jones industrial average surging through the 23,000 level for the first time ever, Cramer offered investors a piece of contrarian food for thought. “Here’s something you never