Investing & Retiring

Source: John Phelan | Wikimedia Commons Webster Bank branch in Hamden, CT Webster Financial shares will thrive due to strong growth from its commercial banking and health savings account businesses, according to J.P. Morgan. The firm reiterated its overweight rating for Webster Financial’s stock and added it to J.P. Morgan’s focus list, predicting the bank will
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Patrick T. Fallon | Bloomberg | Getty Images A Dish Network Corp. field service specialist installs a satellite television system at a residence in Downey, California. Dish Network shares jumped 15 percent after the pay TV company reported better-than-expected profit. Dish posted June quarter earnings per share of 83 cents versus the Thomson Reuters consensus
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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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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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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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Expedia Group shares jumped on Friday after the travel website operator reported a quarterly profit well above estimates. The company reported a second-quarter profit of $1.38 per share on Thursday, beating the 89 cent consensus estimate by Thomson Reuters. Revenue for the second quarter, meanwhile, fell in line with analysts’ expectations at $2.88 billion. The
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One SEC Commissioner, Hester M. Peirce, was supportive of a cryptocurrency bitcoin ETF and published a dissent following the agency’s decision. “I am concerned that the Commission’s approach undermines investor protection by precluding greater institutionalization of the bitcoin market,” Peirce said in a statement. “More institutional participation would ameliorate many of the Commission’s concerns with
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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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Check out the companies making headlines before the bell: Twitter – Twitter matched Street forecasts with adjusted quarterly profit of 17 cents per share, while revenue topped forecasts. Twitter saw monthly average users come in below forecasts, but data licensing and ad revenue topped analyst expectations. Merck – The drug maker reported adjusted quarterly profit
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