Investing

The likelihood of a Democratic party takeover of at least one house of the U.S. Congress in the midterm elections in November is prompting some portfolio managers to move more money to cash and rotate away from sectors like financials and technology that could see greater regulatory scrutiny. Fund managers from Federated Investors, OppenheimerFunds, and
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Morgan Stanley’s Michael Wilson believes the stock market is entering a destructive phase. “The Nasdaq could correct by 15 percent plus, the S&P 500 probably goes down about 10 [percent],” the firm’s chief U.S. equity strategist said Thursday. His comments came on CNBC’s “Trading Nation,” where he was speaking publicly on Monday’s correction warning research
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CNBC’s Jim Cramer gives billionaire entrepreneur Elon Musk high marks for recognizing the need to apologize to the Tesla analysts he dissed three months ago. On Wednesday’s post-results conference call, Musk said, “My apologies for not being polite on the prior call.” The Tesla co-founder and CEO also promised future profitability, after the electric automaker
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Beginning Friday, August 3, Fidelity Investments will offer no-fee index funds that allow every single penny you invest to go toward building long-term wealth — instead of getting eaten up by pesky fees! RELATED: Warning: This oft-forgotten expense could wreck your retirement plan Fidelity’s unprecedented move in the retail investing world According to a prospectus filed
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Labor pressure and unpredictably high medical and legal expenses weighed heavily on Cheesecake Factory’s second-quarter earnings, prompting the company to cut its forecast and sparking a sell-off of its shares Wednesday. The casual dining chain’s stock shed about 13 percent Wednesday. The stock has gained 1.8 percent this year. CEO David Overton blamed minimum wage
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The market’s favorite technology stocks are tanking as investors are growing concerned over the companies’ ambitious growth targets after disappointing financial results from Facebook and Netflix this month. The NYSE FANG+ index is down more than 10 percent from its high of 3,062.88 in mid-June after its 2.8 percent drop Monday to the 2,734 level.
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Several Wall Street firms are cautioning their clients about the prospects for Twitter shares, saying the social media company’s stock will not outperform until user growth returns. On Friday the company posted slightly lower-than-expected second-quarter monthly active user (MAU) numbers. But the bigger disappointment was Twitter’s guidance for the third quarter, when it forecasts a
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Steve Eisman, the investor whose prescient financial crisis forecast was featured in “The Big Short,” is shorting electric automaker Tesla. The portfolio manager called the company’s founder Elon Musk a “very smart man” but raised concern about the CEO’s ability to follow through on lofty ambitions. “He’s got execution problems,” Eisman, portfolio manager at Neuberger
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Wall Street is stunned over Amazon’s impressive June quarter earnings results. Analysts say they are growing more confident in Amazon due to its increasing ability to generate more profits from its key opportunities. The e-commerce juggernaut said Thursday it generated second-quarter earnings per share of $5.07, crushing the $2.50 Thomson Reuters consensus. Operating profit margin
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