KUALA LUMPUR (Aug 1): The FBM KLCI is seen starting off August on a positive note today, in line with the overnight gains at most global markets, with support at the 1,770-point level. The local index had racked up some 92.75 points month-on-month in July, despite the volatity at global markets. Global stock markets
Month: July 2018
Dimon said Monday that the unwinding of the unprecedented program could backfire on the economy or spark a market panic. Potentially adding to the problem are new limitations on banks’ capital and trading activities, meaning swings in asset prices could be sharper than in the past, Dimon said in an April letter to investors. A
Chinese internet search giant Baidu on Tuesday topped Wall Street estimates for quarterly profit on the back of strong growth in its online advertisement business. Revenue for the segment rose 25 percent to 21.1 billion Chinese yuan ($3.10 billion) in the second quarter. The company has seen rapid growth in its newsfeed product, an app
Carlo Allegri | Reuters People walk past a board that announces cancelled flights at LaGuardia airport on the day before Thanksgiving, in New York, Nov. 26, 2014. The ability to get their money back if a trip is cancelled was the top reason cited by 88 percent of those respondents. Other reasons for opting to
A new Somerville startup wants to apply the strategy of direct-to-consumer brands like Warby Parker and Dollar Shave Club to an overlooked segment of consumers: Older adults struggling with incontinence. The new company, called Willow, is set to launch its website and online marketing campaign on Tuesday. Willow will sell packages of 60 pairs of
Location is everything, especially when it comes to insurance that’s supposed to supplement your Medicare coverage. Medigap is a form of insurance that will fill in for the areas where your own Medicare policy may fall short, such as deductibles, copayments and coinsurance. Some policies cover certain extras, like medical care when you’re traveling outside
GoPro shares could rise significantly when the company posts its financial results this week, according to J.P. Morgan. The firm said the company’s stock price is now low enough for the shares to rally on a decent earnings report. GoPro is slated to report its second-quarter earnings results Thursday after the market close. “We expect
Getting paid as a freelancer? It’s the best. Nothing like that feeling when your payment arrives, and it’s yours, all yours (at least till tax time). But also: getting paid as a freelancer? The worst. Where’s the money? Paper checks bear some of the blame. “It’s surprising how many clients still pay by hard-copy check,
“Let’s not and say we did” was a quote we often used when I was growing up. It needs to be said plainly today to U.S. Treasury Secretary Steven Mnuchin, who has a new tax cut plan that may be constitutionally questionable. The stealth $100 billion plan, which would index capital gains taxes to inflation,
The S&P 500 is about to do something it hasn’t done in a midterm election year since Dwight D. Eisenhower occupied the Oval Office. It’s on track to end July in the green after a positive April, May and June. That’s a rare bullish sign, according to Jeffrey Saut, chief investment strategist at Raymond James.
KUALA LUMPUR (July 31): Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail opines that Tun Dr Mahathir Mohamad’s decision to lead Khazanah Nasional Bhd as chairman of the board is aimed at improving the country’s economy. “I think the Prime Minister has decided to manage (Khazanah) so that the economic level of this
Shopify initially rose after releasing better-than-expected earnings on Tuesday before the market opened. The stock then turned lower later in the morning and ended the day down 6.7 percent as traders reacted to lukewarm guidance, a new offering of stock and a possible slowdown in net merchants added to the platform. The e-commerce company said
Archer Daniels Midland‘s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.–China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the New York Stock Exchange. Operating profits
Jack Guez | AFP | Getty Images Bitcoin is a borderless digital currency that eliminates the need for a bank. Therefore, understanding this concept hinges on conceiving financial transactions without banks. Perhaps less surprising is that predictions of bitcoin’s demise fail to account for technological factors. Bitcoin is, after all, technology, but you don’t have
Check out the companies making headlines before the bell: Pfizer – Pfizer reported adjusted quarterly profit of 81 cents per share, 7 cents a share above estimates. Revenue also beat forecasts. Its results were helped by stronger sales of drugs like its arthritis treatment Xeljanz and pneumonia vaccine Prevnar. Procter & Gamble – The consumer
U.S. drugmaker Pfizer posted a better-than-expected quarterly profit on Tuesday, driven by higher sales of pneumonia vaccine Prevnar and arthritis drug Xeljanz. The company lowered its 2018 revenue expectation to between $53 billion and $55 billion, from $53.5 billion to $55.5 billion, due to a strengthening dollar. Net income rose to $3.87 billion, or 65
Here are some of the highlights for the second quarter: Net income: 647 million Swiss francs ($655 million) Net revenues: 5.6 billion Swiss francs ($5.57 billion) CET1 ratio: 12.8 percent Tidjane Thiam, chief executive officer of Credit Suisse, said the second quarter of 2018 “was a period of continued strong performance as we achieved our
KUALA LUMPUR (July 31): Credit Suisse analyst Danny Chan upgraded the recommendation on Axiata Group Bhd to outperform from neutral. * Price target (PT) set to RM5.10. Axiata average PT is RM5.36. * Axiata had 12 buys, 15 holds, 1 sell previously: Bloomberg data * Analysts lowered their consensus one-year target price for the stock
Jamie Dimon, chairman and chief executive officer of J.P. Morgan Chase, is bullish on the U.S. economy, which is in the latter stages of one of the longest expansions in history. But when asked Monday on CNBC’s “Closing Bell” what the single biggest risk to the economy is, Dimon had two answers. First, the U.S.
A willingness to survive on fast food alone was no surprise to Mat Ishbia, CEO of United Wholesale Mortgage in Pontiac, Michigan, who said he’d gladly do that. But sharply curtailing communication with friends and family was unexpected. “You wouldn’t be able to show off that dream home,” Ishbia said. All kidding aside, buying a
The chances of Les Moonves remaining at the helm of CBS are slim, after allegations of sexual misconduct surfaced last week, according to longtime media analyst Porter Bibb. “I think it’s inevitable that Les is history at CBS, whether he takes a leave of absence or is dismissed outright,” Bibb said on CNBC’s “Power Lunch”
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.
Shares of Tyson fell 7.6 percent to a 52-week low Monday after the food company cut its full-year guidance on trade worries related to the Trump administration’s imposition of tariffs and a turbulent commodities market. The international food company now expects adjusted earnings for fiscal year 2018 at approximately $5.70 to $6.00, down from a
Bezos found his enlightenment from the decision to leave Wall Street at the age of 30. “The wake-up call,” Bezos has been quoted as saying, “was finding this startling statistic that web usage in the spring of 1994 was growing at 2,300 percent a year.” “You know, things just don’t grow that fast,” he has
As expected, the herd has chased gold’s move lower. Poor market sentiment right now leads me to wonder, if everyone has gotten out of gold, who’s left to sell? According to the CFTC’s CoT data, managed money short positions have outweighed long positions for four weeks now, amounting to a near-record short position. Traditionally, it’s
The Mountain has been shopped around and has a troubled past. According to The Hollywood Reporter, the property was purchased by the sister of the shah of Iran in the 1970s, and then sold to Merv Griffin. Herbalife founder Mark Hughes then stepped in and bought it for $8.7 million in 1997, making it the
KUALA LUMPUR (July 30): The Works Ministry said it is reviewing proposals for the removal of highway tolls in stages as the move involves huge implications. The ministry said in Parliament today the review needs to be done holistically as it involves various parties including concession holders, lenders and the stock market. “In this regard,
Investors may want to consider unloading bonds in favor of crude oil. According to Bank of America-Merrill Lynch’s Paul Ciana, there are two particular charts that point to an oil breakout that could garner solid returns over the next 6 to 12 months. The firm’s chief global technical strategist’s first chart compares commodity prices to
Small business is starting to go digital, as smartphone apps, cloud sharing and automation help many of them get more work done in less time. Technology is often billed as a means to replace human labor, yet recent data suggest that small businesses are actually looking to boost headcount, even as they shell out more
Before students even step foot on campus, financial experts advise beginning with a plan, which includes a conversation between parents and their college-bound children. The financial aid package for your child’s first year of college may be set, but your family should be having an ongoing discussion about student loan debt and how to keep
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