Good MorningEquities started October and the 4th quarter on solid footing following a week of significant decline. The S&P 500 advanced more than 3.0% at the high of the day and it may move higher in the near term. Good news from GM and the oil patch are helping to support the action and could lift spirits as the peak of Q3 reporting approaches. GM announced it sold 25% more cars this year than last as supply chain issues eased while oil prices rose more than 3.5% on news OPEC+ would cut production by a million barrels this month.
The news from OPEC+ carried through to the oil industry and the XLE which led the market throughout the day. The XLE advanced more than 5.0% on the idea that higher oil and gas prices will translate into strong earnings for the energy sector. The takeaway for the market should be, however, that any improvement to the earnings outlook will be because of oil and energy stocks and not an improvement in the broad economy. Featured: 5 Best Stocks Under $5 to Buy Now 
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Retailer marketplace and technology applications behemoth Amazon (NASDAQ: AMZN) has grown into a juggernaut of commerce. Amazon is a paragon of the network effect as its ecosystem often induces the same customer to use multiple services simultaneously without a second thought. Amazon is the #1 Top... Read the Full Story |
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Markets | | | Small-cap biotech Catalyst Pharmaceuticals (NASDAQ: CPRX) has been outperforming the broader market, amid recent earnings and revenue acceleration.
The company also got some good news last month, as it joined the S&P 600 Small-Cap index, replacing defense contractor ManTech, which was acquired ... Read the Full Story |
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When Americans are out and about and see electric vehicles, it’s common to see those made by Tesla (NASDAQ: TSLA) or every once in a great while, Rivian (NASDAQ: RIVN). Meanwhile, legacy automakers like Ford (NYSE: F) and General Motors (NYSE: GM) are rolling out their own versions of electr... Read the Full Story |
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Markets | | | Billionaire Warren Buffett's successor bought nearly $70 million worth of stock in the conglomerate he is slated to one day lead.
Berkshire Hathaway Vice Chairman Greg Abel on Monday disclosed buying 168 Class A shares in the company in a filing with the Securities and Exchange Commis... Read the Full Story |
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Politics | | | The U.K. government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows.
In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans... Read the Full Story |
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Genome sequencing solutions company Illumina (NASDAQ: ILMN) stock has fallen under its pandemic lows. A surprise earnings miss, and lowered guidance has caused shares to spiral down (-49%) for the year. The Company leads the market with its next-generation genome sequencing systems and analysis to... Read the Full Story |
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Markets | | | Cigarette manufacturer ITG Brands assumed liability for tobacco settlement payments to the state of Florida when it acquired four brands from Reynolds American in 2015, a Delaware judge has ruled.
Vice Chancellor Lori Will ruled Friday that, as a result, ITG must compensate Reynolds A... Read the Full Story |
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Politics | | | The CEO of American Airlines said Monday that his airline needed a partnership with JetBlue because Delta Air Lines had bulked up through a merger sooner than American, had more takeoff and landing rights at New York airports, and fewer unionized workers.
Robert Isom also conceded tha... Read the Full Story |
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Politics | | | Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report issued Monday by the office of Sen. Elizabeth Warren, giving the public its first glimpse into the growing problems at Zelle.
The report also found that the ... Read the Full Story |
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Kate’s guest today on The MarketBeat Podcast is Kirk McDonald, portfolio manager at Argent Capital Management. Today, Kirk has three stocks to discuss, all from different industries with different market caps. He explains why each is a holding in his portfolio, and how investors should... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services. This segment also provides LinkedIn; and dynamics business solutions, including Dynamics 365, a set of intelligent, cloud-based applications across ERP, CRM, power apps, and power automate; and on-premises ERP and CRM applications. The Intelligent Cloud segment offers server products and cloud services, such as azure and other cloud services; SQL and windows server, visual studio, system center, and related client access licenses, as well as nuance and GitHub; and enterprise services including enterprise support services, industry solutions, and nuance professional services. The More Personal Computing segment offers Windows, including windows OEM licensing and other non-volume licensing of the Windows operating system; Windows commercial comprising volume licensing of the Windows operating system, windows cloud services, and other Windows commercial offerings; patent licensing; and windows Internet of Things; and devices, such as surface, HoloLens, and PC accessories. Additionally, this segment provides gaming, which includes Xbox hardware and content, and first- and third-party content; Xbox game pass and other subscriptions, cloud gaming, advertising, third-party disc royalties, and other cloud services; and search and news advertising, which includes Bing, Microsoft News and Edge, and third-party affiliates. The company sells its products through OEMs, distributors, and resellers; and directly through digital marketplaces, online, and retail stores. The company was founded in 1975 and is headquartered in Redmond, Washington. | | View Today's Stock Pick |
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