Shares of Callaway Golf plunged on Tuesday following an announcement that Callaway and Topgolf had agreed on an all-stock merger, with Topgolf having an implied equity value of approximately $2 billion. Yahoo FInance’s Dan Roberts joins The Final Round panel to discuss.
Stanley Druckenmiller reportedly said that a Democratic sweep in the upcoming election could prove to be a headwind for the stock market for years to come.
On Wednesday morning, Jim Cramer shared his first take on the markets which included opinions on potential lockdowns, more layoffs, and if there is a buying opportunity in stocks.Cramer on Lockdowns: While appearing on "Squawk on the Street," Cramer discussed the potential for lockdowns similar to what Europe has done."There's going to be a call for lockdowns."Cramer doesn't believe we will get a lockdown as our country believes in freedom and won't completely close down.Instead, Cramer thinks we'll have a "stay in place voluntarily."Related Link: European Markets Today: Stocks Hit Lows On Rising Coronavirus FearsBuying Opportunity? Markets are expected to open down significantly on Wednesday. The S&P 500 has an implied open down 65 points."If we had a stimulus, we would be focusing on earnings."Instead, Cramer said we're focusing on the rising virus figures and more layoffs: "Very hard to buy a lot of stocks when you see these numbers."Cramer said everyone is fearful.Some states have adopted their own rules on how to stop the spread of the virus said Cramer, which could impact how we control the rising number of cases. He thinks it's realistic that we get something done in terms of stimulus after the election."Buy those stocks tomorrow, not today."Price Action: The SPDR S&P 500 Trust ETF (NYSE: SPY) is down 2% in pre-market trading.See more from Benzinga * Click here for options trades from Benzinga * October 28 Is Best Trading Day Of Year Statistically, Kicks Off Best 6 Months For S&P 500 * What Happens To The MAGA ETF If Trump Loses The Presidential Election?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The largest Japanese automaker said Wednesday it was adding another 1.52 million U.S. vehicles to the recall that was first announced in January and covers numerous models built between July 2017 through September. Toyota said the vehicles that have a fuel pump that may stop operating and could result in a vehicle stall, and the vehicle may be unable to be restarted. Dealers will replace the fuel pump with an improved version.
Western Digital Corporation beat analyst expectations with its fiscal first-quarter financial report after the bell on Wednesday. Western Digital forecast fiscal second-quarter revenue to be in the range of $3.75 billion to $3.95 billion and non-GAAP earnings per share in the range of 40 cents to 60 cents. In the upcoming quarter, analysts are forecasting sales of $3.8 billion and earnings per share of 59 cents, according to FactSet data.
My question is: Can I retire before that and be able to live off of my rental income? If you manage your real estate as “passive” income, then you aren’t contributing to Social Security, which will affect you down the road when it’s time to claim benefits.
The defense giant's disclosure of a criminal probe came a day after Raytheon beat Q3 EPS views but aviation sales tumbled earnings. Shares fell.
Individual investors have never been more worried about a U.S. stock market crash. This counterintuitive reaction is because investor sentiment is a contrarian indicator. Historical data on investor beliefs about crash probabilities comes from Yale University finance professor (and Nobel laureate) Robert Shiller.
Earlier on Wednesday, Mastercard Inc <MA.N> missed profit expectations and warned that travel-related spending will likely be a major headwind for the industry until COVID-19 vaccines are widely available. Visa's net income fell to $2.4 billion, or $1.07 per Class A share, for the fourth quarter ended Sept. 30, from $3.03 billion, or $1.34 per Class A share, a year earlier. Net revenue fell 17% to $4.8 billion as consumer spending was limited due to the health crisis, which has triggered the worst economic downturn in decades and prompted massive layoffs.
(Bloomberg) -- Ford Motor Co., riding a wave of momentum from new models and new management, exceeded expectations with third-quarter earnings that outran the economic effects of the coronavirus pandemic.Fueled by strong sales of pricey pickups, Ford posted adjusted earnings per share of 65 cents, well above the 19 cents analyst consensus forecast, with adjusted earnings before interest and taxes of $3.6 billion compared with $1.8 billion a year ago.Shares of the company rose as much as 7.8% in postmarket trading after closing Wednesday at $7.70. The stock is down about 17% this year.Chief Financial Officer John Lawler said in a conference call with reporters that Ford expects adjusted earnings before interest and taxes for full-year 2020 to be between $600 million and $1.1 billion. This is up from a projected loss for the year that the company had predicted in the second quarter.The long-suffering automaker is enjoying a surge in sentiment since industry veteran Jim Farley became chief executive officer Oct. 1, replacing retiring Jim Hackett, to whom Wall Street never warmed. Intense and demanding, Farley is expected to jumpstart a turnaround that has been sputtering for years.Farley is armed with three key new models -- a redesign of its top-selling F-150 pickup, the electric Mustang Mach-E and the revived Bronco sport-utility vehicle -- and a U.S. auto market that is coming back faster than anticipated after a Covid-19-related, two-month spring shutdown initially decimated sales.Ford recorded its best third-quarter pickup sales in 15 years as demand for trucks industrywide outpaced supply with the economy clawing back from the pandemic pause. That boosted the company’s U.S. market share in the quarter and the average price buyers paid for its models to $45,599, up 8% from a year earlier, according to researcher Edmunds. Revenue in the quarter was $37.5 billion, above the $33.98 billion analysts anticipated.Overseas Market Drag“Ford is riding a wave of positive momentum that should carry the company through the end of a wild year,” Jessica Caldwell, Edmunds’ executive director of insights, said in a statement before the automaker released quarterly results.To conserve cash when the pandemic hit, Ford suspended its dividend and maxed out its revolving credit lines of $15.4 billion. The automaker repaid almost half that debt in the second quarter, ending the period with $39 billion in cash on hand. It finished the third quarter with $30 billion in cash and $45 billion in cash reserves.North America continued to drive Ford’s results, with automotive earnings before interest and taxes of $3.18 billion, up from $2.01 billion a year earlier, when the automaker was in the midst of a costly botched launch of its Explorer SUV. Third-quarter operating margin in the region was 12.5%, up from 8.6% a year earlier.Overseas operations remained a work in progress. Ford lost $58 million in China, where sales rose 25% in the quarter.In Europe, Ford lost $440 million as it scrambles to avoid fines for falling short of environmental regulations after recalling plug-in hybrids that caught fire.(Updates with shares in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Ford blew away Q3 views with earnings that nearly doubled and now expects to a key profit gauge to turn positive this year.
Required minimum distributions from tax-deferred retirement accounts would rise to age 75 under a new bipartisan proposal aimed at expanding worker access to savings plans and bolster savings.
Former Vice President Biden has a detailed proposal that involves raising taxes on people with taxable income of more than $400,000—essentially targeting the top 1%. President Trump wants to keep the tax cuts that went into effect in 2018, which largely benefited top earners.
Gilead Sciences late Wednesday posted third-quarter earnings and sales that beat views, but the Covid-19 treatment maker lowered its outlook; GILD stock hit seven-year lows in regular trading.
The San Francisco-based company reported revenue of $71 million in the quarter, a 42% year over year increase. Analysts were expecting Fastly to report a break-even quarter with revenue of $73.57 million. "Despite the customer-specific challenges we faced this quarter, we are pleased with the continued strength and resilience of our business, including a 42% year-over-year top-line growth in the third quarter," said Joshua Bixby, CEO of Fastly.
Shares of United Parcel Service Inc. took a dive Wednesday, after the package delivery giant's profit and revenue beats weren't quite good enough to extend their recent run up, given concerns over the margin outlook for its biggest domestic business.
While you might not need to make changes if President Trump wins a second term, financial advisors suggest planning now for potential changes under a Biden administration so you’re so you’re not scrambling at the last minute.
Ford Motor Co. late Wednesday reported third-quarter results that were above Wall Street expectation, including profit that rose by $2 billion on stronger demand for its pickups and SUVs.
Go out and buy a bunch of bitcoin (or other digital currencies), get a receipt, and then immediately sell them. The IRS considers these digital currencies as property or investments, and taxes them as such.
The famed former hedge-fund manager, who with George Soros famously broke the Bank of England by shorting the pound in 1992, told CNBC in an interview on Wednesday that the Federal Reserve has inspired a “big party” in financial markets that has powered the stratospheric climb for stocks which he says eventually leads to a “hangover.”
The Dow Jones Industrial Average plunged 600 points early Wednesday, as Boeing and Microsoft reported earnings. First Solar surged on earnings.
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