Month: July 2018

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
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Wall Street’s expectations for Twitter have been appropriately reset as evidenced by the recent nosedive in the company’s stock, according to Nomura Instinet, which upgraded shares to neutral from reduce on Tuesday. “Dealing with traffic and content quality on these platforms as well as protecting users’ privacy comes at a cost and is likely to
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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
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The global esports industry is on fire and, now, some investors are getting bullish on the industry. “No question this is changing the landscape for media companies and how people are participating in sports,” Tim Seymour, co-founder and managing partner at Triogem Asset Management, a hedge fund, said on “Fast Money” Monday. Last weekend, the
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If you think traditional and Roth individual retirement accounts are the same, think again. There are some big differences between these popular retirement savings plans. And what you don’t understand about the particular rules that apply can cost you, according to IRA expert Ed Slott, founder of Ed Slott & Co. With traditional IRAs, you
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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 2.7 percent drop Monday to the 2,737 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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Oil prices rose back above $70 a barrel on Monday, with U.S. crude posting its best one-day dollar gain in over a month, after four weeks of losses for the benchmark. U.S. West Texas Intermediate crude ended Monday’s session up $1.44, or 2.1 percent, to $70.13 a barrel. While the contract has risen in seven
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Caterpillar reported record second-quarter earnings per share Monday and bumped up its full-year forecast. The big machinery exporter also said it would offset a sizable second-half profit hit from the tariffs by raising prices. “Caterpillar delivered record second-quarter profit per share,” CEO Jim Umpleby said in a statement. “Based on outstanding results in the first
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