TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Dow Powers to New Record, Nears 23,000
    The Dow Jones Industrial Average, the Nasdaq and the S&P 500 all reached record highs at the close on Monday. The Dow closed less than 50 points away from 23,000. Drug stocks, including Gilead Sciences Inc. and Pfizer Inc. , were under pressure on Monday after Trump went after the industry. In comments at the White House, the president said health care companies were "getting away with murder" and that drug prices were "out of control. Sears Holding Corp. stock plummeted about 10% on Monday after announcing that Fairholme Capital Management's Bruce Berkowitz was stepping down from the board of directors at the end of October. Berkowitz acts as chief investment officer at Fairholme. The investment firm was Sears' second-largest shareholders as of the end of June. Shares of Ruby Tuesday Inc. soared some 18% after news that the restaurant chain will be taken private. The private-equity firm NRD Capital said that it will pay $2.40 for each share, which represents a 21% premium from Ruby Tuesday's closing price of $1.99 on Friday. With debt included, the companies value the deal at $335 million. The chain, which has about 600 restaurants, said in March that it was evaluating strategic alternatives.
    2 min
  • Energy Sector Leads Market Gains
    Stocks were rising but retreated from intraday records. The Dow, the Nasdaq and the S&P 500 were all holding in the green. The energy sector was the best performer on Monday. Supermajor oil companies were higher, including Chevron Corp. and Exxon Mobil Corp. . Crude oil prices rallied this morning as the potential for conflict in Iraq threatened to cut off exports. Reports indicated Iraqi forces have descended upon Kirkuk, a major oil-producing region in Iraq. Shares of Viacom Inc. and Charter Communications Inc. jumped higher after the companies agreed to a short-term extension of their renewal deadline, Reuters reported citing a source familiar with the matter. If no deal is reached, 16.6 million subscribers of Charter's Spectrum service will lose Viacom's networks, such as Comedy Central, MTV and Nickelodeon, Reuters noted. Viacom and Charter are working to "reach a mutually beneficial deal," the source said. An analyst at Gabelli & Company, Viacom's second-largest voting shareholder, said Viacom stands to lose $760 million, or about 16%, of its annual affiliate revenue if an agreement isn't reached. Apple Inc. added more than 1% after KeyBanc Capital upgraded its rating on the tech giant to overweight from sector weight, reversing a downgrade in June. Analyst Andy Hargreaves is optimistic over Apple's turn to "subscription-like qualities rather than a regular hardware business" including growth in its App Store. Watch More with TheStreet: Wall Street Is Set Up to Like Netflix's Quarter, Jim Cramer Says Lessons to Be Learned From Black Monday and the Stock Market Crash of 1987 Tax Extension Deadline: What You Need to Know, Time Is Running Out! Peter Schiff: Bitcoin Is Not the Money of the Future BMW Has a $153,000 Luxury Car That Will Dazzle You
    2 min
  • Markets Bounce Back to Close Higher Friday
    The Nasdaq closed at a record high. Watch More with TheStreet: Watch: Jim Cramer Reveals Why Netflix Is Crushing It Ex-Trainer for New York Yankees Gene Monahan Spoke to Us About His Career Could Your City Be Amazon's New Home Sweet Home? Memo to Slackers: Hurry Up and File Your 2016 Tax Return!
    2 min
  • Trump to end ACA Subsidies, BAC Misses Revenue, Friday Stories
    Health insurers could be active today. President Donald Trump will end Obamacare subsidies. The White House said in a statement that the Department of Health and Human Services has determined there is no appropriation for cost-sharing reduction payments to insurers under the Obamacare law. Some states say they will sue over this change. Bank of America turned in a mixed quarterly report. It beat on earnings with 48 cents a share versus 45 cents a share expected. Revenue missed slightly, with $21.8 billion compared to estimated $21.9 billion. The Weinstein Company is reportedly on the financial brink. Variety reports that bankruptcy or a sale of the company is possible as its founder has been accused by several women of sexual harassment. Watch More with TheStreet: Jim Cramer Reveals When to Buy Bank of America Hurry Up and File Your 2016 Tax Return! 5 of the Weirdest Things Burger King Has Tried to Sell You Americans to Spend Over $9 Billion on Halloween This Year
    2 min
  • Equifax Tackles Another Breach and Wall Street Retreats From Records
    Stocks retreated from records as declines in trading revenue pressured the big banks and a selloff in crude hurt the energy sector. All three major indexes moved lower after hitting all-time highs a day earlier. Equifax Inc. fell after the credit-reporting agency said it was investigating another possible data breach. Last month, the company disclosed that a massive hack had compromised the confidential data of more than 145 million people. Juniper Networks Inc. declined after warning of lower profit and sales for its third quarter on a disappointing performance in its cloud vertical. The company will report in just under two weeks. Health insurers were mixed after President Trump signed a new executive order to undermine Obamacare. The order lets businesses band together to purchase plans across state lines that do not need to adhere to ACA rules. Watch More with TheStreet: Gene Monahan Was Right! The Yankees Were 'Hard to Beat,' Just Ask Cleveland Tim Hortons Isn't the Only One Experimenting with Bizarre Flavor Combinations Hurry Up and File Your 2016 Tax Return! Peter Schiff: Bitcoin Is Not the Money of the Future
    2 min
  • Wall Street Secures Records Even as Fed Remains Divided on Rates, Inflation
    Questions over the inflation outlook and what it means for future rate hikes kept the Fed split at its September meeting, according to minutes. Even so, stocks still marched to new records, the Dow for its second day in a row. More on the Fed, many members of the FOMC said another rate hike by year's end was likely to be warranted. However, participants also expressed concern over low inflation readings and worried that these were more persistent trends. Amazon.com Inc. moved higher after Credit Suisse upped its price target. The firm is confident in Amazon's position in the grocery market even as competitors up their investment in the space. SeaWorld Entertainment climbed even after Merlin Entertainments shut down rumors of takeover talks. SeaWorld spiked last week on reports the U.K.-based amusement park company was considering an acquisition. Watch More with TheStreet: Welcome to the Inaugural Alpha Rising Podcast! Pizza Hut's New Pizza Parka - So Hot Right Now Watch: Jim Cramer Reveals What to Watch in Domino's Pizza Earnings Rejoice, 1980s Hit 'Amazing Stories' Is Coming Back
    2 min
  • Kroger Leads Consumer Stocks on Sale Talks, Rest of Market Edges Higher
    Consumer stocks drove Wall Street to small gains, though any stronger moves would have to wait until investors get clarity from the Fed this afternoon. At these levels, the Dow will end at a record, while the S&P 500 and Nasdaq are a toss-up. Kroger Co. was one of the largest gainers in the consumer space on the announcement it was considering unloading its convenience store business. Goldman Sachs is advising the process. Colgate-Palmolive Co. also boosted the consumer sector after SunTrust Robinson Humphrey upped its rating to buy from hold and boosted its price target by $20 to $85. The firm sees Colgate recovering from recent weakness in its fourth quarter. The number of job openings held near record highs in August, according to the latest Job Openings and Labor Turnover Survey. Openings rose to their highest level in seventeen years in July. Don't miss these top stories on TheStreet: Beware of the Vicious Black Swan Now Stalking Record Stock Markets Walmart's Stock Is Going to Record Highs and That Should Terrify Amazon What to Look for When Apple, Alphabet and Netflix Report Earnings Soon Micron Investors Will Be Clamoring for Stock Offering, Jim Cramer Says Nvidia's New Hardware 'Is Going to Change Everything,' Jim Cramer Says Switzerland Has So Much Gold That It's Literally Being Flushed Down the Toilet Fiat Chrysler CEO Marchionne on Tesla's Musk: What He's Selling Isn't Viable Bitcoin Could Skyrocket to $20,000 Before It Explodes, Veteran Forecaster Warns Ferrari CEO: Wall Street Loves That We Have Created an Exclusive Supercar Club
    2 min
  • NAFTA Negotiations Resume, Tax Reform Speech Planned: Wednesday's Top Stories
    Jane King Has Wednesday's Top Stories: NAFTA Talks Resume Today: Negotiators are back at it again for NAFTA talks today. It's the 4th of 7 meetings so far, with little progress reported. One item on the agenda is expected to be stricter standards for what items can be declared duty-free. President Trump on Tax Reform: President Donald Trump will give a speech tonight on tax reform in Harrisburg, Pennsylvania. He's expected to make anew argument for changes in the tax code-mainly that a typical American household will get what's essentially a $4000 pay raise with the changes proposed. He also expected to reiterate his call for an elimination of the estate tax. NFL National Anthem Rules: NFL owners are considering changing league rules to make it mandatory that players stand for the national anthem. The owners will meet next week to clarify game rules about the national anthem as the enforcement of rules has been inconsistent and unclear. TV ratings for NFL games have been down this season and some blame the national anthem controversy. Watch More with TheStreet: More Alarming Reports Emerge About the Equifax Data Breach Will Amazon's Move into the Prescription Drug Industry Hurt Other Pharmacies? Everything You Need to Know About Your Fire Insurance Ex-Trainer for New York Yankees Gene Monahan Now Has Career in Nascar
    2 min
  • Dow Closes at Record High as Stocks Power Higher
    Stocks powered higher on Tuesday. The Dow closed at a record high, 22,830.68, while the Nasdaq and the S&P 500 also closed in the green. Shares of Procter & Gamble Co. fell slightly after CEO David Taylor said that shareholder had re-elected all incumbent directors. But activist investor Nelson Peltz said the results are "too close to call." Procter & Gamble and Peltz' Trian Partners have collectively spent more than an estimated $100 million on mailings, phone calls and advertisements to woo investors, according to Reuters. It could take days to certify the final vote tally. American Airlines Group Inc. stock increased by about 4.5% after raising its third-quarter growth forecasts. The airline anticipates total revenue per available seat mile to climb by 0.5% to 1.5%, up from its previous target of flat to 1% higher. Capacity is expected to climb to 64.6 billion available seat miles, higher than 63.5 billion in the second quarter. Express Scripts was down about 1.8% after agreeing to purchase medical benefit management company eviCore healthcare for $3.6 billion. Express expects the deal to close in the fourth quarter. Watch More with TheStreet: Walmart Is Using This Secret Weapon to Fight Amazon, Jim Cramer Reveals Peter Schiff: Bitcoin Is Not the Money of the Future Ex-Trainer for New York Yankees Gene Monahan Now Has Career in Nascar 5 of the Weirdest Things Burger King Has Tried to Sell You
    2 min

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