STOCK NEWS: Stocks reverse, oil tops $102, Apple hires, spending update
SymbolPriceChange%Change I: $31,288.26 DJI + 658.09 + 2.15% SP500 $3,863.16 +72.78 +1.92% I: COMP$11,452.42+201.24+1.79% Q2 earnings season picks up this week, with seven of the 30 members of the Dow and 71 companies in the S&P 500 (just over 14% of the benchmark). The big banks and financial institutions kicked things off last week, and we’ll be hearing from many more this week, including Bank of America, Goldman Sachs, American Express, and Travelers to name a few. Tesla will release the first of the large-cap/tech titans with April-June results on Tuesday, followed by Netflix on Wednesday. Other high-profile names to…
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Tech leads stocks higher as earnings pile up, ECB raises rates
Technology stocks led the markets higher for a third straight session on Thursday as investors weighed in on a slew of mixed earnings and a surprise rate hike by the European Central Bank. [Click here to read what’s moving markets on Friday, July 22] The tech-heavy Nasdaq Composite gained 1.3%, while the benchmark S&P 500 rose 1%. The Dow Jones Industrial Average added 160 points, or 0.5%. Shares of Amazon ( AMZN ) rose for a seventh straight day, putting the e-commerce giant on pace for its longest winning streak since June 2020. Shares are up 13% over the seven…
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STK CEF: Golden Standard of Technology CEF now very expensive
Ellenkaspring/iStock via Getty Images Thesis Columbia Seligman Premium Technology Growth Fund (NYSE: STK) is a “buy-write” closed-end fund. The vehicle has performed admirably over the past decade, increasing by over 461% in terms of total return and showing long periods of time when outperformed its benchmark, the Technology Select Sector SPDR Fund (XLK). The CEF has a 10-year Sharpe ratio of 0.85 with a standard deviation of 21.47% and has achieved an average annual total return of more than 16% over a 10-year look back: Average annual returns (fund fact sheet) The fund presents an extremely attractive risk/reward analysis and…
Read More »Economy news and stock market updates for July 26, 2022
Ice cream was a bright spot for Unilever, which owns the Ben & Jerry’s brand, as shoppers cut back on many other items amid big price increases.Credit…Andrew Kelly/Reuters A day after Walmart warned investors that its profits would shrink as higher prices force shoppers to shop less at its stores, Unilever, Coca Cola i McDonald’sthree other consumer-facing giants reinforced the message, to varying degrees, offering a window into how companies are navigating this fragile economic time. On Tuesday, Unilever, the maker of Dove soap, Ben & Jerry’s ice cream and Hellmann’s mayonnaise, said it raised prices to 11 percent more…
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Shares fall after Walmart’s profit warning
US stocks fell on Tuesday after Walmart (WMT) earnings notice on Monday night and ahead of a slew of tech gains and the Fed’s latest policy statement on Wednesday. At the closing bell, the benchmark S&P 500 lost 1.2%, while the Dow fell 0.7%. The tech-heavy Nasdaq fell 1.9%, the index’s third straight session of losses, and the Nasdaq’s third straight day of losses outpaced those suffered by the S&P and the Dow. Walmart stock (WMT) fell more than 7% after the retail giant cut its profit outlook for the second quarter and for the full year on Monday afternoon,…
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Edison International (NYSE:EIX) updates fiscal 2025 earnings guidance
Edison International (NYSE:EIX – Get a score) issued an update on its fiscal 2025 earnings guidance on Friday morning. The company provided EPS guidance of $5.50 to $5.90 for the period. The company issued revenue guidance of -. Edison International rises 3.5% Shares of EIX traded up $2.28 during midday trading on Friday, reaching $67.77. The company’s stock had a trading volume of 2,941,193 shares, compared to its average volume of 1,943,840. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.63, and a quick ratio of 0.58. Edison International has a twelve month low of $54.14…
Read More »Stock market updates and economy news for July 27, 2022
A months-long effort by Frontier Airlines to acquire Spirit Airlines ended abruptly Wednesday when the companies scrapped their proposal, breathing new life into a rival bid for Spirit by JetBlue Airways. The announcement came shortly before Spirit announced the results of a shareholder vote on Frontier’s takeover bid. Spirit had repeatedly delayed the vote as it sought to persuade shareholders to support the deal and ignore the appeal of JetBlue’s more valuable offer. The airline industry consolidated greatly in recent decades, creating four dominant airlines. For Frontier and JetBlue, buying Spirit has represented an opportunity to expand quickly and gain…
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INTERVIEW: Accessible finance is key to realizing Uganda’s potential |
Dmitry Poshidaev Many UN agencies have a very specific thematic focus: dealing with women, children, health care or other important issues. However, UNCDF can be involved in various thematic areas, as long as there is a financial solution that can be used to address a specific challenge, from education to agriculture. UNCDF Dmitry Pozhidaev, Head of the UNCDF Office in Uganda., for UNCDF Uganda has a lot of promise. For example, 50 percent of all arable land in East Africa is in Uganda; 75% of Uganda’s population are young people under the age of 30. Therefore, this potentially creates the…
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