Earnings momentum can mean the difference between whether to buy stocks that have expensive valuations or not, according to Piper Sandler. Analyst Michael Kantrowitz published two lists of stocks this week with expensive price-to-earnings multiples. The difference between them, he said, was whether they had positive upward earnings revisions. Investors want the names where estimates are moving higher as these stocks are more likely to keep trading at a lofty valuation, he said. That group was named to the “hold” list, while the others were deemed part of the “fold” cohort. “Our recommendation is to emphasize stocks with strong EPS…
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Mark Cuban attends the Round 1 Game 2 of the 2024 NBA Playoffs between the Los Angeles Clippers and the Dallas Mavericks game at Crypto.com Arena on April 23, 2024 in Los Angeles, California. Kevork Djansezian | Getty ImagesMark Cuban on Thursday is set to campaign alongside Democratic presidential nominee Kamala Harris in Wisconsin, the first of three swing states the billionaire businessman will visit in support of the vice president’s White House bid.Cuban, the “Shark Tank” star and former majority owner of the Dallas Mavericks, will join Harris at events in Milwaukee and La Crosse on Thursday, a Harris campaign…
Iga Swiatek, the world No. 1, has hired Wim Fissette as her new head coach.Fissette, 44, is hugely experienced and is one of the most successful and highly regarded coaches on the WTA Tour. The Belgian has coached former world No. 1 players Naomi Osaka, Kim Clijsters and Angelique Kerber to six Grand Slam titles between them. He has also worked with other former world No. 1s like Simona Halep and Victoria Azarenka, taking both to Grand Slam finals.When Swiatek parted with her long-term coach Tomasz Wiktorowski two weeks ago, The Athletic reported that well-placed sources within the sport were…
Small-cap stocks are looking very good right now. The iShares Russell 2000 ETF (IWM) , which tracks the small-cap benchmark, closed at its highest level since November 2021 on Wednesday after rising 1.7%. The ETF is now on a four-session winning streak and is less than 8% away from reaching its all-time high. The key catalyst for this recent strength has been the Federal Reserve. The Fed last month began a rate-cutting cycle with a half-point reduction. Lower rates can boost smaller companies by allowing them to borrow money for cheaper and expand their businesses. With the rate cuts, investors…
Uber discussed a bid for the $20 billion travel booking company Expedia, CNBC confirmed, in a deal that would push the ride-share company into new markets beyond car travel and food delivery.The talks were in early stages, according to a person familiar with the discussions who asked not to be named since the talks are confidential. It remains unclear if an acquisition will take place. Expedia is familiar territory for Uber CEO Dara Khosrowshahi, who previously served as CEO of the travel group from 2005 to 2017. Khosrowshahi is still a non-executive member of Expedia’s board.Uber’s interest in Expedia was…
Sebastien Bozon | AFP | Getty ImagesLONDON — Technology giants could face “significant” fines if they don’t comply with the U.K.’s internet safety regulations, which are set to enter into force in two months’ time, the British media regulator Ofcom warned Thursday.The Online Safety Act includes sweeping new rules that will force large tech firms to do more to combat illegal content online. Over the past six months, Ofcom has consulted on its codes and guidance for illegal harms, pornography age verification and children’s safety.The watchdog said it submitted its advice to the government on which services it would look to…
Check out the companies making headlines before the bell. Elevance Health – Shares plummeted more than 10% after the health insurer reported weaker-than-expected third-quarter earnings. In a statement , CEO Gail Boudreaux said the company remains “confident” amid “unprecedented challenges in the Medicaid business.” Health care stocks Molina Healthcare and Centene also fell nearly 9% and more than 7%, respectively. Taiwan Semiconductor – The stock surged more than 8% after the company reported a 54% gain in net profit for the third quarter. Shares of chip giant Nvidia – one of TSMC’s clients – rose more than 3% in sympathy…
In this photo illustration, the Robinhood Markets, Inc. logo is displayed on a smartphone screen.Rafael Henrique | Sopa Images | Lightrocket | Getty ImagesRetail brokerage firm Robinhood is launching a new tool for more sophisticated traders as it looks for additional avenues for growth.On Wednesday, the firm introduced Robinhood Legend, a desktop-based platform for active traders. The offering includes advanced charting tools for users who want to do detailed analysis of stocks.”In looking at the landscape of trading tools and by talking with active traders, we realized there is frustration with legacy offerings,” Steve Quirk, chief brokerage officer at Robinhood,…
Consumer spending held up in September, underscoring a resilient economy that is now getting a boost from the Federal Reserve, the Commerce Department reported Thursday.Retail sales increased a seasonally adjusted 0.4% on the month, up from the unrevised 0.1% gain in August and better than the 0.3% Dow Jones forecast, according to the advanced report.Excluding autos, sales accelerated 0.5%, better than the forecast for just a 0.1% rise. The numbers are adjusted for seasonal factors but not inflation, which rose 0.2% on the month as measured by the consumer price index.In other economic news Thursday, initial unemployment claim filings totaled…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailDan Ives, Wedbush Securities managing partner, joins ‘Squawk Box’ to discuss news of Uber exploring a possible bid for the travel booking website Expedia, why he believes the potential deal would make sense for Uber, and more. Source link
