Commentary Two out of three Americans live in a state that has approved the sale of recreational cannabis. The Democrats control the White House and the Senate. And American support for cannabis legalization is at an all-time high. It’s a ground-floor industry that has an immense addressable market, with HUGE tax revenue potential. And despite…
Stocks Rise on Wall Street, Extending Their Weekly Gains
Another wobbly day of trading on Wall Street ended with more gains for stocks Wednesday, as the latest batch of company earnings reports kept investors in a buying mood. The S&P 500 rose 0.9 percent after having briefly dipped into the red in the early going. The Dow Jones Industrial Average rose 0.6 percent and…
TE Connectivity Raises $600 Million via Long-Term Debt Offering
TE Connectivity Ltd.’s subsidiary, Tyco Electronics Group S.A., priced $600 million 2.500 percent senior notes due 2032 in a secondary offering. TE Connectivity will issue the $600 million senior notes due 2032 for 98.033 percent at an interest rate of 2.500 percent per year, payable semi-annually. TE Connectivity looks to use the offering proceeds for general…
Oil Climbs Toward 7-year Highs on US Stock Draw, Eyes on OPEC+ Move
LONDON—Oil prices climbed on Wednesday toward last week’s seven-year highs as a draw in U.S. crude stocks confirmed strong demand and tight supplies, but investors remained cautious ahead of an OPEC+ meeting later in the day. Brent crude rose 23 cents, or 0.26 percent, to $89.39 a barrel by 1050 GMT, after easing 10 cents…
Battered Indian Tech Stocks Popular With Retail Investors Recover, Following Similar Path Charted by US Counterparts
Indian tech stocks extended their rally on Tuesday following the strong gains overnight by their U.S. peers—including Tesla Inc. and Apple Inc. Stock Movement (+/-) Paytm +5.8% Zomato Limited +4.8% Adani Green Energy Limited +3.38% Infosys Limited +1.9% Tata Consultancy Services Limited +1.5% Why Is It Moving? The benchmark 30-share S&P BSE Sensex was up…
AMC Stock Could Really Start Turning Around If It Breaks This Key Level
AMC Entertainment Holdings Inc. shares are trading higher Tuesday after the company announced preliminary fourth-quarter financial results. AMC reported preliminary quarterly revenue of $1.1716 billion, which is above the Street estimate of $1.09 billion and up from $162.5 million year-over-year. AMC stock was up 14.76 percent at $18.43 midday Tuesday. AMC Daily Chart Analysis Shares…
US Lawmakers Bought and Sold Over $350 Million Worth of Stocks in 2021
Lawmakers on Capitol Hill had a busy 2021 not just crafting legislation but also in terms of personal financial transactions, with members of Congress buying and selling an estimated $355 million worth of stocks. U.S. representatives and senators or their immediate family members bought around $180 million and sold around $175 million worth of company…
Citrix Agrees to Be Acquired in $16.5 Billion Deal
Citrix Systems Inc. reported fourth-quarter FY21 revenue growth of 5 percen year-on-year to $851 million. The non-GAAP net income was $186 million versus $183 million last year. Citrix reported a non-GAAP EPS of $1.47. Vista Equity Partners and Evergreen Coast Capital affiliates agreed to acquire Citrix in an all-cash transaction valued at $16.5 billion, including debt. Citrix shareholders…
Apple, Microsoft Set Positive Tone Ahead of Another Key Earnings Week: Analyst Says Tech Stocks Are Oversold
Apple Inc. and Microsoft Corporation, which released their quarterly earnings data last week have set a positive tone for the upcoming week, which will see other tech stalwarts release their own numbers. What Happened Wedbush analyst Dan Ives said in a recent note that tech stocks “way oversold on Fed fears.” The analyst noted a…
Business Chart of the Day: Is the Correction Over?
Shares of the SPDR S&P 500 ETF Trust may be ready to move higher. Shares have broken out of the trading range they have been in over the past week. If SPY does rally, there is a good chance it runs into resistance around $451. This level was support and sometimes in financial markets, levels that had…
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