TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Midday Report: Arconic Falls on Reports of Ties to Grenfell Fire; Tech Makes Turn Lower
    The Nasdaq led losses on Wall Street as tech resumed a selloff that hit the sector mid-June. Healthcare was also under pressure ahead of an expected vote on the GOP repeal-and-replace bill later this week. Arconic Inc. slumped after being named as the producer of aluminum steel used in the Grenfell Tower. A fire at Glenfell Tower in the U.K. this month killed at least 79 people. Avis Budget Group Inc. rose after reaching a deal with Alphabet self-driving car branch Waymo to manage its fleet of vehicles. Avis will store the fleet in Phoenix where Alphabet is currently testing its driving technology. GrubHub fell after being downgraded to equal weight from overweight at Morgan Stanley. The firm pointed to increased online competition, including from Amazon.com Inc. .
    1 min
  • Closing Bell: S&P 500, Dow Fall in Final Moments; Healthcare Holds Higher
    The S&P 500 and Dow Jones Industrial Average ended lower for the third session in a row. The two indexes fell into the red in the final moments of the day, though a healthcare rally did give rise to the Nasdaq. Nordstrom Inc. climbed as it reportedly moves forward with its search for a private equity buyer. The department store chain has formed a special committee of the board and has hired legal and financial help to assist with the search. Hain Celestial Group Inc. found no need to make any material changes to previously reported earnings after an audit and investigation that lasted more than a year found no discrepancies. Hain shares fluctuated over the session. American Airlines Group Inc. was active on news Qatar Airways would make a significant investment in the company. American said Qatar's investment was unsolicited.
    1 min
  • Closing Bell: Etsy Announces More Job Cuts; Health Care Gives Nasdaq Boost
    The S&P 500 and Dow Jones Industrial Average ended lower, retreating further from records set earlier in the week. A sharp selloff in crude stretched into day two and pulled the energy sector lower. Etsy Inc. increased after announcing plans to cut 140 jobs, or 15% of its workforce. The latest cuts are in addition to the 90 job cuts announced last month. The online crafts store anticipates severance costs of at least $6 million. The health care sector rose on high hopes for eased regulations in the industry. The Trump administration is reportedly drafting an executive order to ease regulatory burdens on drugmakers to drive down drug prices. Foot Locker Inc. tumbled after a Goldman Sachs note said that Nike Inc. is considering selling its products directly through Amazon.com Inc. . Nike rival Under Armour Inc. already has a relationship with Amazon.
    2 min
  • Midday Report: FedEx Beats Quarterly Estimates; Crude Falls Even as Supplies Drop
    The S&P 500 and Dow Jones Industrial Average turned lower as a selloff in energy resumed. Crude oil gave back earlier gains to pull lower even after a drop in domestic stockpiles. Crude supplies fell by 2.5 million barrels in the past week, according to the Energy Information Administration. Existing home sales rose at a faster pace than anticipated in May. Sales of previously owned homes increased by 1.1% to a seasonally adjusted annual pace of 5.62 million. FedEx Corp. beat quarterly earnings and sales estimates over its recent quarter. The package delivery company swung to a profit. Red Hat Inc. surged 10% after beating earnings estimates and bumping its full-year guidance higher.
    1 min
  • Closing Bell: Crude Settles in Bear Market Territory; U.S. Stocks Decline
    The S&P 500 and Dow Jones Industrial Average backed off from records set at beginning of week. Crude oil stumbled into bear market territory, having fallen just over 20% below a 52-week high set in late February. House Speaker Paul Ryan expects tax reform by year's end. At an event Tuesday, he called on Congress to seize "once-in-a-generation moment" Chipotle Mexican Grill fell after warning of tighter profit margins in current quarter. Marketing and promotion costs expected to climb by 20 to 30 basis points in the second quarter. Cable companies, including Comcast Corp. and Charter Communications Inc. , were under pressure, MoffettNathanson's Craig Moffett downgrades sector to neutral from overweight
    1 min
  • Midday Report: S&P 500 Retreats From Records; Crude Oil Falls Into Bear Territory
    The S&P 500 fell from records on Tuesday as a steep selloff in crude oil prices sent the energy sector lower. Major decliners includeD Exxon Mobil Corp. , Schlumberger Ltd. , Chevron Corp. , Halliburton Co. and Royal Dutch Shell PLC . U.S. crude oil tumbled below $43 a barrel on Tuesday, its lowest level of the year. Oil entered bear territory after concerns over a supply glut flamed up ahead of domestic supplies data. Lennar Corp. climbed after topping profit and sales estimates over its second quarter. Deliveries increased 15% and new order value rose 17%. McDonald's Corp. MCD grew after Cowen & Co upgrades to OUTPERFORM from MARKET PERFORM and increased its price target. Analysts' optimism was based on higher U.S. same-store sales tied to mobile ordering initiatives.
    2 min
  • Closing Bell: 'Cars 3' Speeds to Number One; S&P 500, Dow at Closing Records
    Wall Street enjoyed big gains as tech names recovered from last week's selloff and the Dow Jones Industrial Average and S&P 500 secured new closing records. The Nasdaq rose more than 1%. Walt Disney's 'Cars 3' dominated the weekend box office, toppling 'Wonder Woman' from the number one perch. The third installment in the franchise brought in $53.5 million at domestic theaters. Snap Inc. rose more than after signing a two-year $100 million dollar deal with Time Warner . The two agreed to create up to TEN original programs per year, including scripted comedy and drama. Costco was downgraded to hold from buy at Deutsche Bank. Analysts said the bulk-purchase retailer would see increased competition following the Amazon-Whole Foods deal. Goldman Sachs downgraded Costco last week.
    1 min
  • Wall Street Wakes up to Another Terrorist Attack in London
    One person is dead, 10 injured as a van plowed through a crowd near a mosque in London. The 48 year old suspect has been taken into custody. Witnesses describe the suspect as a white man who reportedly made derogatory statements against muslims. Some of the top technology Chief Executives are visiting the White House today for the first meeting of the American Technology Council. Among those expected to attend-Alphabet's (GOOLG) Eric Schmidt, Apple's (AAPL) Time Cook, and Amazon's (AMZN) Jeff Bezos. Topics may range from ways the federal government can better used information technology to policies on H1-B Visas. Boeing (BA) is expected to roll out a new 737 model today. Reuters reports the 737 Max 10 could be unveiled at the Paris Air Show. It seats 190 to 230 people would be used for medium haul flights.
    2 min
  • Closing Bell: More Losses for Nasdaq; Kroger Caught Up in Supermarket Selloff
    The S&P 500 and Nasdaq ended the session with losses for the third day in a row, while the Dow Jones Industrial Average reached a record. Amazon.com Inc.'s decision to purchase Whole Foods Market Inc. set off declines among retail and grocery stocks earlier in the day. Oil held onto modest gains even after another weekly rise in domestic production. Active rigs drilling for oil climbed by six in the past week, its 22nd increase in a row. Kroger Co. was caught up in a selloff in retail and supermarket names to end the week. The grocer was already under pressure after JPMorgan cut its rating to NEUTRAL from OVERWEIGHT and reduced its price target. Finisar Corp. surged on high hopes it will deliver tens of millions of 3D sensors to Apple Inc. in coming months. Piper Jaffray said such sales would provide Finisar with millions in high-margin sales in its October and January quarters.
    2 min

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