TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • SEC Says System Hacked, Company Information may Have Been Comprised
    Hackers penetrated the computer system of the Securities and Exchange Commission. The Wall Street Journal says the system hacked was used for storing public company filings and may have lead to trades based on the hacked information. The SEC says it is investigating the source of the hack, which exploited a software vulnerability in a part of the agency's EDGAR system, which is a database of filings made by thousands of public companies regulated by the SEC. Albertson's is getting into the meal kit business. The grocery chain announced it has bought Plated for $200 million. Albertson's also agreed to make payments to Plated depending on how well it performs. President Trump's approval rating is rising. The NBC-Wall Street Journal poll says Americans like to bipartisan way he's been pursuing deals but are split on tax reform. Watch More with TheStreet: You Can Become a Millionaire Even if You Make $35,000 a Year Why is Toshiba's Memory Chip Business so Valuable? How Healthy Is that Happy Meal? Inside the Kids' Menus at McDonald's and More Fed's Balance Sheet Plans Won't Interrupt the Strong Corporate Earnings Story Kiss Rock Legend Gene Simmons Explains How to Make Money
    2 min
  • U.S. Indices Close Mixed as Fed Readies to Reduce Balance Sheet
    Stocks fluctuated on Wednesday following a hawkish message from the Federal Reserve. The Dow and the S&P 500 closed at record highs, while the Nasdaq finished in the red after the Fed said it would begin unwinding its balance sheet in October and left the federal funds rate unchanged. FedEx Corp. was higher even though the shipping giant posted fiscal first-quarter earnings below analysts' expectations, blaming the miss on the TNT Express cyberattack and Hurricane Harvey. Adjusted first-quarter earnings for FedEx were $2.51 a share, below Wall Street estimates of $3.09. The company also lowered its adjusted earnings forecast for fiscal 2018. Adobe Systems Inc. shares fell despite posting fiscal third-quarter earnings that topped Wall Street estimates. Net income in the quarter was 84 cents a share, up from 54 cents a year earlier. Adjusted earnings were $1.10 a share, topping forecasts of $1.01. Revenue rose to $1.84 billion; beating analysts' estimates of $1.82 billion. But the company's experienced a shortfall in revenue for its cloud division. Adobe warned that some of its larger deals for its cloud service were taking longer to close. Finally, shares of Ford Motor Co. were in focus after the automaker announced plans to trim production at five North American assembly plants through the rest of 2017 as demand for new vehicles in the U.S. slips. Ford plans a two-week shutdown at its plant in Flat Rock, Michigan, which makes the Mustang and Lincoln Continental, and a one-week shutdown at its Michigan Assembly Plant, which makes the Focus and C-Max small cars. The automaker also plans to idle Transit van production at its Kansas City, Missouri, plant for two weeks. The company also plans shutdowns of up to three weeks at two plants in Mexico. U.S. sales at Ford have declined 4% through August compared with the same period a year ago Watch More with TheStreet: What's Behind Bitcoin's Volatility? 5 Things on the Menu at Jollibee, the McDonald's of the Philippines Billionaire Ray Dalio Reveals His 'Principles' for Success in Life and Investing 5 Stores With the Best Return Policies
    3 min
  • Midday Report: Stocks Mixed Ahead of Federal Reserve Decision
    Wall Street wavered some Wednesday as investors await Federal Reserve Policy decisions this afternoon. The Dow Jones Industrial Average was slightly up, while the S&P 500 was just in the red. The Nasdaq was down further, as much as 0.3% around midday. Apple shares dropped more than 2% on reports it had confirmed the new Apple Watch had encountered connectivity issues. The Apple Watch Series 3 is the first model to independently connect to networks, rather than through an iPhone. In a statement to The Verge, Apple said its new watch had issues connecting to cellular networks when already using unauthenticated Wi-Fi networks without connectivity. Apple said it was "investigating a fix for a future software release." Pfizer pushed the Dow higher after Morgan Stanley upgraded its rating to overweight from neutral. Analysts raised price target on the stock to $39 from $35. "Underperformance" had led to an upgrade and that the stock shows "favorable risk-reward and M&A optionality." Tax reform could lead to better deal opportunities for Pfizer, analysts added. Shares of General Mills tumbled 4% after the maker of Cheerios posted fiscal first-quarter profit and sales that missed expectations. Earnings of 71 cents a share missed consensus by a nickel, while revenue slipped nearly 4% to $3.77 billion. Organic sales declined by 4%, while gross margins slipped by 230 basis points to 35.1%. Watch More with TheStreet: You Can Become a Millionaire Even if You Make $35,000 a Year Why is Toshiba's Memory Chip Business so Valuable? How Healthy Is that Happy Meal? Inside the Kids' Menus at McDonald's and More Fed's Balance Sheet Plans Won't Interrupt the Strong Corporate Earnings Story Kiss Rock Legend Gene Simmons Explains How to Make Money
    2 min
  • Hurricane Maria Weakend but Takes Direct aim at Puerto Rico
    Hurricane Maria was downgraded overnight to a strong category 4 as it lashes at the Caribbean. Puerto Rico is bracing for a direct hit today. The National Hurricane Center says some parts of Puerto Rico may be uninhabitable for weeks. Meanwhile, the death toll continues to climb after a powerful earthquake hit Mexico. More than 200 people are dead. The earthquake was a magnitude 7.1 and scores of buildings were destroyed. The Mexican stock exchange is closed and the Mexico City airport is shut down. FedEx says its profits fell 17% and it's blaming the cyberattack. A hack at its TNT Express in June caused shipping delays in Europe. The shipping giant also said that Hurricane Harvey affected its fiscal 1st quarter results. The Federal Reserve is in focus as it wraps up a 2-day meeting and announced a decision on interest rates.
    2 min
  • Closing Bell: Stocks Higher Despite President Trump's North Korea Aggression
    Wall Street pushed higher Tuesday following a very nationalist speech from President Trump at the UN General Assembly meeting. The Dow Jones Industrial Average led the benchmark indexes, up as high as 0.2%. The S&P 500 was up close to 0.1%. And the Nasdaq eked into the green after hovering near zero for most of the afternoon. Equifax took another blow Tuesday after it was reported that the consumer credit provider knew of a data breach in March. That's almost five months before the breach was publicly disclosed. Equifax said the incident was separate from the recent hack that released sensitive information on 143 million customers. Sources said differently, though. Synchronoss Technologies moved sharply lower after its largest shareholder backed off previous interest in an acquisition. Siris Capital Group said it could potentially pursue other deals with the company, and Synchronoss said "active discussions" are ongoing. Shares of software services firm Synchronoss closed sharply lower by 40% Tuesday. Kohl's enjoyed gains today after it announced a new venture with Amazon.com . 82 Kohl's locations in Chicago and Los Angeles will now accept returns to Amazon. Kohl's will package and ship the returns to Amazon centers nearby.
    2 min
  • Hurricane Maria Barrels Toward Puerto Rico, Destroys Dominica
    Hurricane Maria is gaining strength and is now a category 5 storm. It's already left a trail of destruction on the Caribbean island of Dominica and is headed toward Puerto Rico. Also, a magnitude 3.6 earthquake hit Los Angeles. Experts say it is unlikely to cause any serious damage. Toys R Us filed for bankruptcy. The retailer has been hurt by shrinking sales and increase online competition. Toys R Us was also struggling with a large debt load and payments were coming due before the end of the year. President Donald Trump will speak to the United Nations today for the first time. His speech is expected to have a nationalist tone. He is also expected to say the body should focus on outcomes, not ideology. The White House says Trump will also stress the need for cooperation, particularly regarding fighting terrorism. Bayer has asked for more time to complete its merger with Monsanto (MON) as the $66 billion dollar deal was facing scrutiny, particularly from the European Commission.
    2 min
  • Caterpillar Leads Dow to Records, S&P 500 Also at All-Time Highs
    The S&P 500 and Dow Jones Industrial Average scored new records even with just modest gains to begin the week. This marks the S&P's second closing high in a row and the Dow's fifth. Gains were broad-based with investors particularly favoring materials and industrials. Caterpillar Inc. led the Dow higher after a bullish note from UBS wherein its rating was upped to BUY from NEUTRAL. The firm based its revision on forecasts of higher private nonresidential construction activity in the fourth quarter and an increase in mining equipment spending next year. Nvidia Corp. reached an all-time high after Bank of America raised its price target on confidence it can capture AI market share. The chipmaker drove peers higher, including Advanced Micro Devices Inc. , Texas Instruments Inc. , and Micron Technology Inc. . Oil prices ended barely higher after fluctuating for much of the day. Commodities wavered as refineries in the Houston region began to slowly come back online following Hurricane Harvey.
    2 min
  • S&P 500 and Dow Aim for New Records With Broad-Based Gains Ahead of Fed
    Stocks aimed for new records with markets in a generally upbeat mood ahead of a decision on interest rates from the Federal Reserve this week. The S&P 500 traded several points above 2,500 after closing at that level to end last week. The housing market index fell back in September as worries increased that Hurricane Harvey and Irma might cause difficulty in finding labor and increasing the costs of materials. The NAHB expects confidence to return in spring once rebuilding in Florida and Texas is underway. Rite Aid Corp. rose on reports Walgreen Boots Alliance will tweak how many of stores it purchases in order to secure an acquisition. The FTC is reportedly close to ending its review process of the Walgreens-Rite Aid deal. Teva Pharmaceutical agreed to sell its women's health business for nearly $1.4 billion. The unit contains a portfolio of women's wellness and emergency contraception products. Watch More with TheStreet: Kiss Rock Legend Gene Simmons Explains How to Make Money Stolen Credit Card? This Is What You Need to Do Immediately If You Buy Just One Tech Stock, Make It This Apple Supplier, Jim Cramer Says Amazon Affects How the Fashion World Does Business -- Designer Antonio Brown
    2 min
  • U.S. Indices Close Higher, Ignoring Geopolitical Concerns
    The U.S. indices brushed off geopolitical concerns following a terrorist attack in London and another missile launch by North Korea. The Dow and the S&P 500 closed at record highs, while the Nasdaq also closed in the green. Nvidia Corp. shares surged after Evercore ISI raised the price target to $250 from $180. After meeting with the company's CEO and CFO, Evercore is optimistic that chipmaker's products will dominate the artificial intelligence market. The firm said that Nvidia is creating "the AI industry standard" that will be "nearly impossible to replicate." Oil prices neared the $50-per-barrel mark on Friday while the total active U.S. rig count, including oil and natural-gas rigs, fell by 8 to 936. The oil rig count dropped 7 to 749, according to Baker Hughes. U.S. benchmark West Texas Intermediate crude settled at $49.89 a barrel on Friday. Finally, Macy's Inc. is hiring for the holidays. The retailer will hire 80,000 workers for the holiday season. That's down from 83,000 last year because Macy's will be operating 70 fewer stores than it did last year. About 18,000-holiday workers will be hired to fulfill online orders, including shipping and packaging, which is an increase of about 3,000 from last year. Watch More with TheStreet: Where You Can Find a Retail Job This Holiday Season Equifax Is a Disaster, Jim Cramer Says New iPhone Price, Too High -- Says Singer Jason Derulo Jim Cramer Reveals What Has Been Keeping Nvidia Shares Down
    2 min
  • JPMorgan Turns on United Continental, American Airlines, U.S. Stocks at Records
    Wall Street shook off geopolitical worries to trade at new intraday records. Trading had been shaky earlier in the day following a terror incident in London and after North Korea executed its latest missile test. The airline sector was under pressure after JPMorgan downgraded American Airlines Group Inc. and United Continental Holdings Inc. to NEUTRAL on weaker pricing and higher fuel expenses. Analysts are uncertain the two airlines can meet fourth-quarter estimates. Consumer sentiment eased in September after hitting its highest level since January a month earlier. The decline in sentiment was mostly tied to weaker confidence in the economic outlook. Carnival Corp. slumped after Credit Suisse downgraded its rating to NEUTRAL from OUTPERFORM. The firm sees Hurricane Irma's damage in the Caribbean hurting demand for the cruiseliner. Terrorist attacks in Barcelona and the North Korea threat could contribute. Watch More with TheStreet: Here Is One Question Every Investor Should Be Asking About Bitcoin Kiss Rocker Gene Simmons: This Is Why Rock and Roll Is Dead How Are You Paying for Your New iPhone? We Are Closer to the End of the Bull Market Than the Beginning: Markets Pro
    2 min

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