TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Wall Street Looks Ahead to the Second Quarter as Stocks Rise
    Investors kick off a new week and a new quarter today. The Dow Jones Industrial Average and S& P 500 have been higher for 6 quarters in a row. The NASDAQ had the best quarter in the first quarter since 2013. The blue chips logged a gain in the first quarter of 4.56%. Tesla said it delivered just over 25.000 vehicles in the first quarter, up 69% from a year ago and a new record for the electric car maker. The number was better than expected. Most of the vehicles delivered were Model S. The Senate Judiciary committee considers the nomination of Neal Gorsuch to the United States Supreme Court. The vote is expected to fall along party lines. Also, President Donald Trump says the U.S. will act alone if China fails to reign in North Korea, although he did not say exactly what that would entail. China's President will meet with President Trump this Thursday in Florida.
    2 min
  • Closing Bell: Amazon Ends at New Record; Dow Sees Quarterly Gain, Monthly Loss
    All benchmark indexes ended the week and first quarter with gains, though the Dow Jones Industrial Average and S&P 500 closed out March with monthly losses. The Nasdaq came close to another record to end the week, though fell into the red in the final minutes. Crude oil closed with slight gains, settling at its highest level in more than three weeks. A reading on drilling activity in the U.S. showed the number of active rigs rise for another week. Amazon was initiated with a BUY rating and $1,100 price target at Loop Capital. Analysts said the company has a runway for continued solid growth and can ultimately spin off its web services business. Amazon closed at records for a third day in a row. Alcoa was upgraded to OUTPERFORM from MARKET PERFORM at BMO Capital. Analysts said the stock price has not factored in higher commodity prices.
    2 min
  • It's Been Another Winning Quarter for the U.S. Stock Market
    Technology stocks have been especially strong in the first quarter of 2017, with the NASDAQ logging 21 record highs this year. The Dow Jones Industrial Average is close to notching its 6th straight winning quarter, which is the best run since 2006. The final gain for the quarter for the blue chips is expected to be around 5%. Former National Security Advisor Michael Flynn says he will testify about the Russian role in the elections but is asking for immunity before doing so. Flynn resigned after it was revealed in a leak that he had inappropriate conversations with Russian officials. The Wall Street Journal says the FBI, House and Senate intelligence committees have yet to respond to Flynn's request. President Trump is expected to sign 2 Executive Orders dealing with trade today. CNN reports the orders will initiate a large scale review of the causes of the U.S's trade deficits with some of its largest trading partners.
    2 min
  • Midday Report: Ackman Says Sorry For Valeant Stake; Financials Climb
    Stocks held onto modest gains through the morning as the financial sector set up a rebound. Big banks such as JPMorgan and Citigroup were among the sector's best performers. VF Corp. detailed its plans for the next five years, including returning $8 billion to shareholders. The owner of Timberland anticipates a five-year compounded annual growth rate of 4% to 6% through to 2021. Goodyear Tire was downgraded to NEUTRAL from BUY at Goldman Sachs. Analysts said the valuation was less attractive as the company faces pricing uncertainty. Billionaire hedge fund manager Bill Ackman has apologized for his investment in Valeant Pharmaceuticals , calling it a "huge mistake" that cost Pershing Square a "tremendous amount." Ackman sold his stake earlier this month.
    2 min
  • Closing Bell: Barclays Bets on Alphabet Growth; Dow Falls, S&P 500 and Nasdaq Rise
    A rally in crude oil gave rise to the energy sector in a mixed day of trading. The Dow Jones Industrial Average ended lower for its ninth session in ten, while the S&P 500 and Nasdaq logged gains. Amazon climbed on the news it would add 1,000 full-time jobs at a new fulfillment center in Virginia. The e-commerce company already employs 3,500 full-time positions at three sites in the state. Alphabet was higher after being initiated with an OVERWEIGHT rating at Barclays. Analysts believe the company can generate 20% annual sales and earnings growth over the next few years. Vertex Pharmaceuticals rallied after releasing positive trial results for its cystic fibrosis treatment. Two clinical studies showed successful efficacy and safety data that also improves the performance of Vertex's existing drugs.
    2 min
  • Midday Report: Deutsche Bank Boosts Morgan Stanley; U.S. Stocks Mixed
    Stocks were mixed in cautious trading after the U.K. invoked the first step in its removal from the EU, a relationship that has lasted more than four decades. Financials weighed on the Dow, while tech boosted the Nasdaq. Pending home sales rose far faster than analysts anticipated, climbing to its highest level in almost a year. Pending home sales measures deals in which an agreement has been made but a contract not yet signed. Crude oil prices rose after the Energy Information Administration reported an increase of 900,000 barrels of oil to domestic inventories over the past week. Analysts had expected a higher increase after the American Petroleum Institute showed a nearly two-million-barrel rise. Morgan Stanley was upgraded to buy from hold at Deutsche Bank. The firm is optimistic about capital markets and an improvement in trading.
    2 min
  • Wake Up Wall Street: Britain Formally Begins The Brexit Process
    This is what you need to know before the bell: 1. U.S. stock futures pointed to a weaker start for Wall Street on Wednesday while European stocks were mostly higher as the U.K. prepares to formally begin the two-year process of leaving the European Union. 2. The European Commission blocked the proposed merger of London Stock Exchange Group and Deutsche Boerse on Wednesday, saying the ?29 billion ($30 billion) tie-up would have created a monopoly in fixed income clearing markets. 3. Toshiba's U.S nuclear division, Westinghouse, filed for Chapter 11 bankruptcy protection in New York on Wednesday. The move was largely expected. 4. Wells Fargo agreed to pay $110 million to settle a class-action lawsuit over up to 2 million accounts its employees opened for customers without getting their permission, the bank said Tuesday. READ MORE: 5 Things You Must Know Before The Market Opens Wednesday
    1 min
  • Closing Bell: Apple at Record High; Dow Snaps Eight-Session Losing Streak as Financials Rise
    The Dow Jones Industrial Average snapped an eight-session losing streak today, its longest stretch of losses in six years. Energy and financials helped all benchmark indexes close out the day at session highs. Tesla rose after a disclosure showed Hong Kong-based Tencent acquired a 5% stake in March. Tencent purchased just over 8 million shares for roughly $1.8 billion. Apple rallied to a new record close after UBS reiterated its support. The firm said Apple could conceivably trade as high as $200 over the next few years, 40% above current levels. Red Hat rallied after exceeding quarterly revenue estimates and guiding for full-year earnings above consensus. Sales over its recent quarter jumped nearly 16%.
    2 min
  • Midday Report: Ford Announces Michigan Jobs; Stocks Break Higher as Financials Gain
    Stocks broke higher after struggling for direction for much of the earlier session. Financials, including Goldman Sachs and JPMorgan , led the way after a days-long retreat. Consumer confidence numbers gave markets a boost earlier after a surge in March. The index rose to its highest level since December 2000. That came as a surprise to analysts looking for a slight dip after the index reached a post-recession high last month. Ford rose after announcing plans to create or retain 130 jobs at its plant in Michigan. The job creation is one of the ways in which Ford will invest $1.2 billion at three of its plants in the state. Competitor General Motors was also higher after investor David Einhorn pushed for the company to generate two classes of stock to divide dividends from earnings. Einhorn said the plan would unlock significant shareholder value.
    2 min
  • Midday Report: Snap Gets Analyst Boost; Dow Stumbles Triple Digits
    The Dow Jones Industrial Average stumbled triple digits to begin the week after Republicans shelved an unpopular health care bill on Friday. President Trump's failure to push through reform raised doubts over how he can enact other promises, including tax cuts. Snap rose following a series of analyst moves. RBC Capital initiated coverage at OVERWEIGHT with a $31 price target, JPMorgan rated it as NEUTRAL, and Goldman Sachs and Jefferies both have a BUY rating. Weatherford International rose after entering into a joint venture with Schlumberger to service the fracking industry in the U.S. and Canada. Wells Fargo upgraded Weatherford to OUTPERFORM on the news. Starbucks was initiated at OUTPERFORM at Tesley Advisory. The firm said few consumer brands have as broad a generational appeal as the coffee chain.
    2 min

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